What can I say? You are correct.
by the way the stimulus checks were something to shut the peasants up. 300 billion out of 3 trillion. God knows how many people will become billionaires because of this. Because we know half of it went to graft and cheating.
I don’t even want to guess what interest on the debt will be next year. Is that interest fixed rate even if rates go up? Or do what we owe fluctuates with market rates?
I’m no expert but... The debt financing bonds are fixed term & rate unless refinanced with a cheaper bonds. If possible.
But eventually there will be higher financing costs, perhaps much higher. The only long term hope is to pay old debt with highly inflated dollars.