This is akin to MMT stuff. Have a look here and here. (especially the comments in the last one. Have a look at the discussion I had with the guy.)
For Austrian discussion of this insanity, see here:
An Austrian Critique of MMT? (this one was started before the above article was published and includes more links)
Can Government’s Finances Be Compared to a Household’s?
Oh, wow, it turns out that we can print our way to heavenly bliss!