No matter how large the federal debt grows, the federal government can always print more money to pay for it. ... In most cases it's fine to live with deficits and debt, MMT advocates argue, and in some ways it's good to live with them, since federal spending and deficits produce surpluses in other parts of the economy.

Does the US budget deficit matter?

An increase in the fiscal deficit, in theory, can boost a sluggish economy by giving more money to people who can then buy and invest more. Long-term deficits, however, can be detrimental for economic growth and stability. The U.S. has consistently run deficits over the past decade.

Does it matter that the US is in debt?

The national debt level is one of the most important public policy issues. When debt is used appropriately, it can be used to foster the long-term growth and prosperity of a country.