I'm not much of an economist, but I believe this "science" had been fundamently altered after the 2008 recession.

Western countries are no longer borrowing money from rich people or corporations or nations with a sudden windfall profit. Rather central banks/federal governments have created new institutions that is owned by the federal government to which the federal government borrows money from. In other words, the federal goverments are now both debtor and creditor to the same bank. At least that's how I understand this new arrangement.

It seems to be holding together. And it seems deficit financing is no longer a big deal any more. A federal government really can't pressue itself to rein in its spending for fear of losing future lendors.

Keynesian economics is so much easier to understand.