You're insane! It is not "free!" It can never be free. It is all who pays for it in their high-ass taxes! We're $20T in debt which isn't getting paid back. How far do you think the Fed can stretch this until it snaps? Bear in mind that if we have a collapse it will be a Mad Max type scenario--you'll wish we had just had a nuclear war. This is where we are and everyone just kind of nonchalantly goes along with their normalcy bias because they have never experienced any real hardship in their lives. It doesn't mean hardship isn't out there waiting for more stupid policy choices to seal the deal.
I think we can hit $40 to $60 trillion in debt (in real terms) before the system starts to collapse. In other words, at least 20 years from now, maybe much more. I have no faith in either political party to exercise fiscal restraint or conservatism. I firmly believe the excessive deficit spending will continue until the breaking point. Given that belief, I'd like to spend the money (the newly issued debt, as you correctly point out) as wisely as possible.
I used to be concerned about that. Look at Japan. They are monetizing absolutely everything in sight and the currency barely moves. Apparently your 'cultural equity' in the face of global chaos counts for a lot more than anyone ever realized. Time will tell.
