Sure, I should have been more precise. If the productivity in the real economy is growing then of course the money supply should increase to maintain the parity

Sure, I should have been more precise. If the productivity in the real economy is growing then of course the money supply should increase to maintain the parity. But the context here is that holes in the budget don't matter because you can just print money to pay them off - yes technically you can, but not without consequences that may be worse than just biting the bullet!