No, no, they're definitely correct. There's no hard limit on the amount of money created. Excess money creation just results in inflation.
More to the point: Congress is being profligate in other spending, and miserly w.r.t. science, so it does indeed look like the science cuts are not motivated by fiscal responsibility.
Your quip about "basic economic theory" doesn't really address the point they're making.
Um, "basic economic theory" would include the processes that create money and the limits on them, which can be disabled, and what happens if the limits are disabled
Try harder to engage in dialog. Basic economic theory contradicts your claim. You need a much stronger logical argument to have any credibility.