Once again, very close:
However,
If we just printed no one would be bitching about taxes going up or future generations being on the hook
You do understand that taxes have gone up? Another form of taxation is the increase in food prices. ( which is another topic but you get the point). Taxation, to cover the deficit isn't always what is seen up close in personal.
Of course any move to printing our currency instead of borrowing would require a significant decrease in the bank's ability to leverage their and their customers assets
That's were fractional reserve banking comes into play. You see, Fractional reserve banking, in easy terms is basically smaller banks, using the " warehouse " funds to invest. Hoping for a great return. Sometimes when they lose, as they did when the economy plummeted, they have to obtain the means to continue daily transactions with their customers, even though they lost their " warehouse " funds, they go the Fed Reserve for " backing" or also known as interested asset.
I think we can print the money we need and offset any inflationary effects just simply by making banks pull in a portion of their leverage at the same time.
Sounds good in theory, but what do we know, regardless what is done outside of the currency, when you push more dollars into the system, you increase inflation, and push down the value of the dollar, also known as devaluation.
