> It’s a textbook outcome from easily identifiable policy choices.

There's no wide agreement that either MMT or Fiat currency is that predictable.

The case for MMT and "printing money" (right or wrong) is made in popular books such as Deficit Myth: Modern Monetary Theory and the Birth of the People's Economy

https://www.amazon.com/Deficit-Myth-Monetary-Peoples-Economy...

and explored in documentaries such as Finding the Money (https://www.imdb.com/title/tt27513787/) and PIIGS (https://en.wikipedia.org/wiki/Piigs)

These may or may not convince you, but they might assist in understanding the opposing viewpoint.

Kelton has a whole chapter on this in her book The Deficit Myth.

https://www.amazon.com/Deficit-Myth-Monetary-Peoples-Economy...