You got this right "MMT Puts Too Much Responsibility On Politicians" but you got this Q"E doesn’t increase the supply of money, rather it takes existing long duration bonds out of the market and replaces them with cash" wrong.

We can't count on Politicians to spend the money on the right things or raise taxes to control inflation when needed.

Depending on what measure of the money supply you use, long bonds don't count as money but cash always does.

MMT does not really seem like anything new, just a excuse to spend more. It's proponents want to spend the money on direct payments to individuals. Well, we have been doing that for more than a year. We are now seeing the inflation. Not saying, yet, that they are connected but they are real. Yes, some are trying to raise taxes.

MMT is here.