So...exactly.
We know now who is paying for $550,000 of people's debt. We who pay federal taxes are all going to pay that.
Gee. Who is going to cover the other $99,450,000 dollars worth of debt?
Also from Milton Friedman: "Inflation is the one form of taxation that can be imposed without legislation."
So when you see that your pound of hamburger or new air-conditioner has doubled in price, you can know that extra money you are paying has already been spent by politicians to wage a war, forgive someone else's debt, or pay for some new leftist social-engineering scheme.
Fire up the printing presses!