And what is Near Money?

Consider the US treasury bond, the T-bill. Uncle prints them and sells them to investors. The investors give Uncle cash money for the bond. Do the investors feel any poorer after exchanging cash for a T-bill? Not really. T-bills are the safest investment on the planet, and there is an active market for them, which means the investor can convert his T-bill into back into cash with merely a phone call to his broker. It makes no matter to the investor whether his fortune is in cash or in T-bills in so far is behavior is concerned. The investor can convert all his money into T-bills and still feel wealthy enough to buy new cars, new houses, yachts, whatever. In short, T-bills are nearly the same as money. Near-money is what Paul Samuelson called them.
Note here. Uncle gains spending money, which will be spent, the investor doesn't really give up any money. Issuing new US treasury bonds is nearly the same as printing new money.
And, it has the same inflationary effect as printing new money.
The Obama administration is spending way more money than the IRS is collecting in taxes. It finances this by issuing US Treasury bonds, i.e. printing new money. Forty percent of the federal budget is financed by selling T-bills. The US budget is unimaginably huge. Forty percent of unimaginable is still huge.
Hold onto your wallets tax payers.