Comment by DrNosferatu

Instead of throwing around historically illiterate analogies, let's talk about the real issues:

What are the actual inflationary risks right now given the state of the economy? What are the costs of not spending (i.e., austerity)?

Because history also shows – very clearly – that austerity imposed due to debt panic in countries that could have afforded to spend is often way more damaging than the debt itself.