Are you serious about this?

Governments being able to borrow money (to run that deficit) relies on people believing that they will be paid back. The more the debt grows, the less likely people are to believe they’ll get paid back.

The other option is endlessly printing money, which causes hyperinflation and you get an Argentina/Turkey/Weimar Republic situation.

Stop the hyperbole. Jacobin is more like social democrat (what most nominally social democrat parties used to do, but aren't doing anymore). That's about two significant notches less communist than communism.