Only if you are borrowing the money to fund the deficit. Public money (as opposed to bank money) is a legitimate, but ignored, alternative. See https://en.wikipedia.org/wiki/Modern_Monetary_Theory
In a similarly patronising way to your comment, I suggest checking out http://bilbo.economicoutlook.net/blog/ if you are interested in reading more criticism of neoliberalism and learning more about MMT than is presented on the wikipedia page.