Which is true.
OTOH, MMT observes that the government doesn't actually need to acquire debts to pay for a gap between spending and revenue in the first place.
> This argument falls into the same boat: sure, the banks will change how they price loans, but for the lucky guys with loans it’ll be glorious!
Sure, and that's why
runaway inflation is bad. MMT doesn't favor more-inflationary policy, it just recognizes that inflation, not the availability of revenue, is the constraint on government spending.