No, this is way off. MMT doesn't model fiscal policy as unconstrained in real terms, only nominal terms. And given the legal authority, of course a sovereign i

No, this is way off. MMT doesn't model fiscal policy as unconstrained in real terms, only nominal terms. And given the legal authority, of course a sovereign issuer is always able to spend. In this case spending is merely typing digits into a computer. This fact doesn't imply deficits/debt "aren't relevant", but rather deficits/debt work very differently for the currency issuer as opposed to the currency user.