Postwar Keynesianism had an obvious inflationary bias, so wilited at the first breath of serious inflation. The "more efficient way" is the Job Guarantee, which does NOT imply deficit spending, let alone extreme deficit spending. The JG spends the least amount to get to full employment. It's the most austere, Austrian, laissez-faire, non-interventionist way to get to zero unemployment, which one must always remember is caused by the government intervention of setting up a monetary economy in the first place. So the least "interventionist" monetary economy is one with a small night-watchman government AND a JG, not one without a JG. The "extreme" about deficits in MMT is that one should be extremely insouciant about deficits, (or even surpluses in very rare conditions). Just look at what is happening in the real economy, make sure you are getting good value in your government expenditures for your money. And make sure what your government charges its people, the taxation & prices for stuff the government sells is not onerous & irrational. But adding and subtracting them up is silly. What will tend to happen is that there will be continual, but not very big deficits. (Unless your currency is being saved abroad as a "reserve currency"). Extreme deficits are/were caused by returning to the nonsense of neoliberal/neoclassical economics. Take care of the real economy, in particular, above all, employment, and everything else takes care of itself. Extreme deficits just mean that the people trust the government so extremely much that they