Deflation is goof if you are completely debt free.
What I think a lot of people are doing is thinking “micro” instead of “macro.”
Yes, if you personally are debt free and living on stores of cash it is good. You will pay less and your dollar becomes stronger. That is good for the individual.
On the macro side, companies use debt to buy capital assets to build or expand their companies. Paying off those debts becomes more difficult during deflation. The capital needs are stressed and expenses have to be cut to keep up with the debt service.
Now think about who has huge debt service. The fist that comes to mind is the Gov Of the U.S. what expenses are going to be cut to service the debt? I know we all think the gov has a ton of places to cut. Do you think they will cut EBT or military spending?
When the government has to service their debt, where are they going to get the dollars to do so? Dollars that are being hoarded. They will increase taxes. And the rich are not going to foot this bill. Gas tax is the obvious first choice. Other types of consumption taxes and tariffs is the second place. That drives production even lower.
The end result is dollars sitting around, production dropping, and people out of work.
Until the last widget that everyone wants rolls off the production line, and the production line itself is liquidated to pay off that debt.
Then you have one widget, that everyone wants, and the folks with cash are jumping over themselves to get it.
That does not end well for anyone.
The Feds will just print it. You are pretty ignorant about everything....