The US federal government's sources of revenue for funding its activities and responsibilities are limited to taxation, property income, borrowing, fees and levies, and minting money.
The federal government does not have broader sources of income like the state and local governments. It relies on the taxation of individual persons and entities to raise the much-needed funds to execute its programs and finance its activities.
When the federal government cannot carry out its functions with the revenue from taxation, it borrows money from citizens and external sources through the sale of FG bonds. Otherwise, it mints money, which dilutes the value of the dollars.
Thus, the federal government needs money to finance its activities and can do so by taxing the people or borrowing money.
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