What's worse, is that one of the tools the Fed uses to halt runaway inflation, raising interest rates, will be impossible to use. That's because the country has so much debt we can't afford to pay higher interest on the $28T currently. There would be nothing left to cover most things in the budget like social programs and defense. So the only option is for the Fed to print more. Runaway inflation will occur and a huge devaluation of the dollar. We're all going to be poorer.
Printing money is like printing more photos of the same thing. If you have a run of 25 to sell, if you increase them to a run of 50, each print will be worth less in the market. It's the same with money. The more you print, then the less each dollar bill is worth in purchasing power.
In the 1970's, I remember we had double-digit inflation. But the Fed was able to raise interest on money into the double digits as well, up to 20% to reign in higher prices. Imagine paying 15% mortgage rates? They won't be able to do that this time. Paul Volker was the Fed chairman at the time who saved the economy.
https://www.thebalance.com/who-is-paul-volcker-3306157
Runaway inflation? Printing money? Not this again.
Would the country be better off with millions of people going bankrupt, not able to pay rent or health care costs. Is that worse than inflation?
Btw, I saw a scary stat yesterday, can't remember where so can't vouch for it, but they stated that 1 out of 3 GoFundMe campaigns in the US are to cover medical bills. For my money, that's a lot scarier thing than a few years of inflation, especially since it's likely not temporary.
How about getting Apple and Amazon et al. to pay taxes? Or are you afraid of them? Are you worried the iPhone 13 will cost too much? (Are they up to 13, I pay no attention to phones.)
It doesn't seem to bother you to keep 700 military bases operational around the globe, so why shouldn't the country help its own citizens in an emergency? Does Trump bragging about not paying taxes bother you a bit in this context?
What did Vietnam, Iraq, Afghanistan cost? You seem to be highly selective about what your government spends your money on?
If your society cannot help its own citizens in times of need, then what IS it for?