Finance it at near 0% interest rates. And refinance more of the debt at near 0% interest rates.
Get back to growing the economy and pay it off over time.
No need to raise taxes in the short run, doing so would be counter productive.
To the extent the stimulus is loans that get paid back, you pay it off when the loan is collected.
Monetary policy can be reversed at the appropriate time.
Finance it at near 0% interest rates. And refinance more of the debt at near 0% interest rates.
Get back to growing the economy and pay it off over time.
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You’ve got it.
Federal debt is not demand debt. It's not a mortgage where you can find someone else to lend you money at a lower interest rate so you can pay off your current mortgage which has a higher rate. Federal debt - be it bills, notes, or bonds - is traded on the financial markets, and the only way for the government to retire it early is to buy it back. If you're buying back debt that has a higher interest rate than the current rates then you're going to pay a premium for it. If you want to buy back $1 trillion in debt that is paying 3% for example then it's going to cost you more than $1 trillion to do it. So if you're borrowing money at a lower rate but increasing the federal debt by 10% or 15% or 20% to do it then are you really better off?