Basically true (using “inflation adjusted dollars”), but in the end it is all the deficit spending is what is causing the inflation in the 1st place. And no administration has the guts to tackle the deficit spending...the “Contract With America” by Newt Gingrich and Dick Armey with the Clinton Administration came close in 1994 (welfare reform, etc. took effect 1995-1999’ish with positive budget #’s), but has been bad ever since.
Inflation adjusted (2nd chart down the page):
https://www.macrotrends.net/3211/us-federal-deficit
Do not worry. Excessive debt requires excessive servicing cost, already highest item in federal budget. It will restrict excessive spending as interest on debt becomes unaffordable.