If the government printed 1 Trillion dollars, and spent it on a forestry program,
employing 10s of thousands of people to plant, harvest and then mill trees,
flooding the market with cheap lumber, would the net result be inflationary or deflationary?
Perhaps a push, but unemployment would be lowered.
Or, if the government spent 1 Trillion dollars on a medical eduction program,
flooding the market with health care providers, would that not lower health care
costs(deflationary) while reducing unemployment(inflationary)