This comes from a really old philosophy called ironically "Modern Monetary Theory", MMT. It has been roundly debunked by both Keynesians (where most of HN sits)

This comes from a really old philosophy called ironically "Modern Monetary Theory", MMT. It has been roundly debunked by both Keynesians (where most of HN sits) and Austrians (myself). A government cannot spend its way to universal prosperity. It's been tried and failed, typically with hyper-inflation. Also I feel that it is immoral to steal from the future generations (my children) via inflation. Cash investments should be allowed to gain value via productivity gains, instead of constantly cashing in our productivity gains for Govt largess. We'd probably have that "4-hour work week" by now if it weren't for inflationary policies stealing gains. I know benefits are popular, and the gov't recklessness (defense budgets for example) today makes uninformed people feel like it's a gravy train out there...but really it's a house of cards, arguably steered by IYIs (IMHO).