If balanced, it’s just semantics whether you say that spending is printing money (which is balanced by taxation and bond sales deleting money). Governments in

If balanced, it’s just semantics whether you say that spending is printing money (which is balanced by taxation and bond sales deleting money). Governments in the general sense are capable of not balancing these items, even if it’s not recommended and sometimes not politically viable. In practice, this is actually the current state of the USA via QE, although I’d argue that doesn’t make QE evil but rather indicates there are some situations where printing money isn’t too bad.