All of this is clear to me and pretty obvious. My point was that the following paragraph from GGP is contradictory:

> There is no limit to how much money it can spend. Any discussion of budgets at that level in terms of deficits etc. is completely flawed, and not just because a lot of politicians are extremely hypocritical about it, but because it just makes no sense in terms of economics and finance.

> When thinking about the spending and taxation of a monetarily sovereign governments, the only real constraint is inflation.