You are technically correct -- the best kind of correct -- but the consequence of minting new money as needed without pulling anything out of circulation is ver

You are technically correct -- the best kind of correct -- but the consequence of minting new money as needed without pulling anything out of circulation is very high inflation, and the consequence of very high inflation is loss of faith in the currency, adoption of alternate forms of money, and ultimately, the diminishment of government purchasing power (money printing or no). So the government technically can spend without taxing, but not if it wants to remain effective.