Part 2: We should consider the 'helicopter money' concept as described by progressive Canadian advocates:

From: http://www.canadianbankreformers.ca/paul-hellyer-speech/
"In 1938 there were no job openings in Canada – none!  Then in 1939, World War II began and it was not long until everyone was either in the armed forces, or working in factories to build tanks, trucks, airplanes and ships required to support a magnificent war effort.  Unemployment dropped to an historic low of one percent. You may wonder where the Canadian government got the money to initiate this unprecedented economic miracle.  The answer is the Bank of Canada. 

The Bank of Canada bought Government of Canada bonds and paid for them with newly minted cash." 
Owned by the people, the Bank returned the interest to the government.. 
That money was spent on essential goods - paid to contractors and their employees who put it in their banks and the system functioned fine. 

There was no hyperinflation, and superb growth.