He would then continue: "The problem is spending, thats what you have to cut". (MMT, however, took the exact opposite stance).
Just modern keynesians wanting to confiscate savings somehow, and what better way than to print money. But even then, MF would say "You print money, reduce your deficit and your currency devalues to match your import/export". MMT has less weakness in inflation as it has in the exchange value of the dollar.
You dont want to mess the dollar value because it might take away its role as a world reserve currency, meaning everything gets way more expensive for the us if that happens.