Short term we'll pay with paying more for inferior domestic products. The companies (owners and employees) that get the "help" from the government will win while consumers pay the price. Just like tariffs. Over the long term these companies will lose market share globally as they're allowed to slack vis a vis their global competition.

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The US collected $4.4t in tax revenue, so we aren't broke. The issue with debt, it's as I said in another comment. If the US has $35t in outstanding debt, it's a mix of Treasury securities sold over that last 30 years. They don't ever pay back the debt, it's like if you bought $1m in Treasury bonds at auction with a 2 year term and a 4% yield. They pay you the 4% in twice yearly installments. So in your bond you get $20k every 6 months and the end you get $20k plus your $1m back, but the US pays you your $1m back it's just selling another $1m bond to someone else. So that's why the Fed rate matters vis-a-vis Treasury securities. If the average rate on $35T is 2% like it was for the decade before Covid and all of a sudden inflation comes along and raises the rate to 4%, now it's twice as expensive to service that $35T. But bonds mature over time and not all at once. The longer bond yields are at 4% to more bonds mature and get converted from a 2% rate to a 4% rate. The long rates are 4% the longer it will take for the cost to service our national debt to fall. This puts incentive on the Fed to lower their rate so that Bond rates fall quickly.

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