As Spud does:
Can it be truthfully said that “internal borrowing shifts the war burden to future generations while taxing places it on the present generation”? A thousand times no! The present generation must still give up resources to produce the munitions hurled at the enemy. In the future, some of our grandchildren will be giving up goods and services to other grandchildren. That is the nub of the matter. The only way in which we can impose a direct burden on the future nation as a whole is by incurring an external debt or by passing along less capital equipment to our posterity.
Spud’s emphasis there.
OK. Take that seriously then. That means that for any of Spud’s schemes it is us who has to give up things to gain Spud’s scheme. We cannot gain those things for them without giving up resources now for us. Being able to print the money, divert the money from pensions, borrow it, makes no difference. We must still give up real resources right now.
Over to you Spud.