If you changed “an addition to deficit spending,” in your first paragraph to “additional Monetary Gifts” you would not only be more correct and insightful of the ultimate and actual effect, you’d also overcome the framing problem MMT and progressive economists have because they confusingly use the very words debt and deficit to attempt to describe what actually occurs…which of course is a less than optimal form of MONETARY GIFTING.
That could lead to a mental breakthrough for both MMTers and the general populace that the way to implementing a paradigm change in economics and the money system would be a double entry bookkeeping 50% Discount/Rebate policy at consumer retail sale as well as the retail point of Finance which is the point of one’s mortgage, automobile, insurance or other big ticket item monthly payment.
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What one needs to realize is that new paradigm concepts can be correct, but an additional insight is occasionally necessary for its complete transformation. For instance, the Copernican cosmological new paradigm concept of helio-centrism actually didn’t predict astro-physical movements as accurately as Ptolemaic cosmology’s geo-centrism. It took Kepler’s insight that orbits were not annointedly perfect circles, but rather ellipses…to finally make it work better and thus to affirm helio-centrism.
The new monetary paradigm needs the additional Keplerian insight that “free” market theoretics is actually largely a fetishized framework and misnomer for chaos because it attempts to enforce TOTAL freedom which includes the (unethical) freedom for commercial agents to inflate their prices way beyond actual costs or even without additional costs AKA “greedflation”. If we instead recognized that in the human universe there is only freedom within known and enforceable barriers, that is ethics, we could craft policy to increase individual and commercial freedom and abundance by implementing a 50% Discount/Rebate at retail sale and then say to commercial agents: “For doubling the potential demand for every one of your goods and services with the above policy you will only be able to inflate your prices 2-3% per annum and any higher price hike will be taxed at a rate of 100%…please utilize competition and innovation to maintain and increase your market share because they are economic virtues instead of the economic felony of greedflation…and if you ignore or try to game the policy of the new economic and monetary paradigm our forensic accountants will call a press conference and point the finger at you for doing so…and then you’ll lose the greatest economic commodity available to you which is the belief that you have the good will of your consumers uppermost in your mind.”
Social Credit/Wisdomics/Gracenomics/ Gracientialism 