The automobile manufacturer then has a surplus to buy more raw materials, invest, or loan money to others, this last being the most important with Wray's reasoning. The credit from the profit can be used to finance. There is no government High Powered Money in this. Therefore, we can continue to grow from the continuing process of raw materials to finished goods and the government can have its surplus. So long as purchasing continues.
Government spending is small compared to total commercial spending.
The argument seems to me to be one that says the government can't put away any money for a rainy day. Profits in the private sector do not alter these balances, though they may shift from one member bank to another. Lastly, there is no such thing as prefunding future liabilities with one's own floating exchange rate currency. If the currency was still backed by gold, one could accumulate gold reserves for future use in support of the currency. Likewise for currencies backed by the US dollar.