Lots of debt is good when in periods of high inflation - as long as your debt doesn’t have an adjustable interest rate...
Anyone sitting on cash gets wiped out.
The exact opposite is true in periods of deflation.
I’m betting on inflation. You can’t print endless dollars and not devalue them.
Just a few decades ago we went thru high inflation and while my debt wasn’t great, I did enjoy paying it off with inflated dollars. Unfortunately, we may have laid the groundwork for a much worse situation today. I’m not an economist, but I sure don’t see any way we can cope with the trillions in debt we’ve just made.