Interesting arguments by Daniel Amerman (whom I never heard of previously):
The US government has fantastically increased its spending relative to the overall economy, but the government's sources of revenues haven't increased. The target of this spending has been the "Third Box" - the covering over of real, persistent and massive private sector job losses through creating what are effectively artificial short-term jobs, originally paid for by ramping up the deficit at a fantastic rate, with the covering over now being funded by the creation of new money from thin air.
What happens if we add the real, full U6 unemployment rate of 17% to the hole in the private economy that is currently being covered by the government's spending money it doesn't have? The simplest approach is to say that 9% of the US economy is manufactured money that's funding government deficits, and if we didn't create artificial money to fund artificial jobs, then that 9% of the economy implodes. If 9% of the economy abruptly disappears, there goes 9% of the jobs as well, so the unemployment rate would immediately jump by another 9%. There are a staggering number of simplifications involved in this approach, but it's not a bad approximation for illustration and discussion purposes within a short article.