As I shared earlier, it matters in the sense that money spent by government would have less velocity due to government's inherent bureaucracy and red tape. The next group to produce lag on velocity would be bigger corporations. Then in descending order would be small corps, medium businesses, small businesses, micro businesses and people.
That more money created side is really where the damage is done, in my opinion. It isn't the only inflationary catalyst but I think it has to be the most drastic. To your point, more money in the hands of consumers (velocity) combined with more money poured into the supply compounds the problem.
That;s a really intelligent question. My answer is twofold: It might be that his spending was on par with spending and increases in spending as we saw with other presidents (on average) and therefore it was more status quo on economy, and inflation may have taken a tick up but not so abruptly or steeply for us to really notice.
