>>"The problem with money printing is it is all but impossible to figure out where the resources are being reallocated from - with taxes it is fairly obvious. With money printing it is not. It may well be impossible to say what we lost to get the bridge built because we can't figure out what would have happened if the money had not been printed. "

It seems to me that, following your logic, if you don't "print the money", it's also impossible to know what would have happened if the money have been printed.