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Does Kelton's argument imply that because we don't have to worry about debt and deficits we can spend unlimited amount of money? If we are

Does Kelton's argument imply that because we don't have to worry about debt and deficits we can spend unlimited amount of money? If we are not constrained by lowering fiscal deficits and debt, what are we constrained by? In other words, how do policymakers know when they should slow down government spending?

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