He is thinking short term here. It is in fact true that much the money in the debt incurred by the government is transfered to the private sector through various means. There is just one little(what an understatement) problem with this though, not only does this debt/money printing help debase the dollar and make it worth less, but it also needs to be paid back at some point meaning it cant continue and at some point, everything will burst. I am sure I dont need to say this though. This is literally "spend like theres no tommorrow".
I just wish people could see this. Major problem is public schools here. When I went through, there was only mention of Keynes, not much of anything else.
To climb the mountain, you must believe you can.
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