The MMT argument made here: Treasuries aren't debt, they are "amplifying dollars" which pay interest. When mature they revert back to original currency form. So never a debt, just a (slightly) different form of financial asset. https://www.zerohedge.com/economics/stephanie-kelton-mmt-blurring-lines-between-debt-and-money#comment_stream
Stephanie Kelton On MMT & Blurring The Lines Between Debt And Money

"So what happens? So the government spends $100 into the economy, taxes let's say $90 back out, we say the government has run a deficit, we look at it as a shortfall."

https://www.zerohedge.com/economics/stephanie-kelton-mmt-blurring-lines-between-debt-and-money#comment_stream
Fedgov chooses to issue bonds, but doesn't need to:
At the heart of this is a deeply held belief in consumption as the basis for economic prosperity. Austrians and other focus on production + capital structure, which rapid/unequal increases in money distorts.

This is a fundamental disagreement.
MMTers reluctantly agree that more money (currency) does not equal more wealth per se-- better/cheaper/more goods & services.

But in an "underperforming" economy, more money is needed to spur those goods and services into existence.
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