It's definitely how the US Congress works, which is really the only relevant consideration since the purse strings are controlled by Congress. Debt servicing co

It's definitely how the US Congress works, which is really the only relevant consideration since the purse strings are controlled by Congress. Debt servicing costs and the cost of new debt have a direct impact on spending levels via the debt ceiling, which is controlled by Congress. On an unrelated note, I'm not sure what modern money theories you're referring to, but the theories which purported that we didn't have to worry about inflation seem to be... slightly more out of favor than they were 1-2 years ago.