> They're identical from the perspective of creating inflation, even though they might have different outcomes
That will only hold true if you look at only the singular issue:
Printing money while not changing economic output increases it's availability and thus decreases it's purchasing power, which we call inflation.
However: if the money goes towards things like clean air and other infrastructure, there are suddenly less things you need to pay for (clean air, water, cooling in summer, cost of transportation become cheaper), which effectively leaves more money for you to spend on wants, offsetting the effect of inflation partially/fully.
Another effect is that correct public can increase overall value generated (think: "nice, with cheaper transportation my home sales business is now viable and contributes to the value/tax pool"), so the "new" money can become backed by real value, again offsetting the loss of spending power for the average Joe.
I agree that if you add more variables that counter the effect then the effect will be countered. But that seems tangential to whether you pay for something by printing more money vs another means. If you use another means you don't inflate the currency, and you decrease inflation, leading to a better outcome.
That will only hold true if you look at only the singular issue: Printing money while not changing economic output increases it's availability and thus decreases it's purchasing power, which we call inflation. However: if the money goes towards things like clean air and other infrastructure, there are suddenly less things you need to pay for (clean air, water, cooling in summer, cost of transportation become cheaper), which effectively leaves more money for you to spend on wants, offsetting the effect of inflation partially/fully. Another effect is that correct public can increase overall value generated (think: "nice, with cheaper transportation my home sales business is now viable and contributes to the value/tax pool"), so the "new" money can become backed by real value, again offsetting the loss of spending power for the average Joe.