1. When you hear experts talk about "deficits don't matter" what you are hearing is a person that believes in modern monetary theory or as I like to call it "money grows on trees" theory. The biggest problem with this theory is it's correct right up until it isn't.

2. Deficits don't matter until they do. You can print money out of thin air until you can't. The system continues to function until it doesn't. It's much like socialism. It works until it fails spectacularly. This is how people are fooled into this thinking.

3. It's really economic musical chairs but instead of taking one chair away at a time all the chairs are removed at once. The kicker is that no one knows when the music is going to stop.

4. They don't know when the failure point will occur because it's based on psychology (human behaviors/emotion) not economics. The music stops when everyone understands their money is worthless because others can create it out of thin air. It stops when the money can't buy goods

5. Basically those that say deficits don't matter are correct short term but very wrong long term. So enjoy the music while it lasts.