Money supply and national debt -- need help on this subject

I studied the subject of "money supply and national deficit" by
reading various articles on wikipedia. Here is what I think how they
are related. Please let me know any mistakes in my thinking.

The government has two major ways to finance its current account
deficit: printing fiat money or selling Treasuries. Printing too much
fiat money may increase the money supply excessively and cause
inflation. Thus a government may choose to cover only a small portion
of the current account deficit by printing fiat money, and cover the
rest of the current account deficit by selling Treasuries to investors
and foreign governments.

If the Treasury is sold to a domestic investor, then the money is
merely taken from the money supply and then put back to the money
supply in whichever form the current account payment calls for. Thus it
does not affect the money suppy.

If the Treasury is sold to a foreign government, then in most cases
the purchase merely sends the import deficit of US back to US. Again
this won't affect the money supply (no new fiat money is created).

Is this an accurate description of money supply and national
deficit? Thanks for any correction in advance!

.

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