"Washington has figured out the logical conclusion of the idea that Federal debt doesn’t matter, in a way these economists have not: If debt and money printing have no fiscal cost, why be careful about how you spend money? Send checks to voters. Why not? It’s costless." 1/5

"No boondoggle project is objectionable. Send billions to prop up dying businesses. Why not? It’s costless. Why bother fixing the post office? Send them another $25 billion. Or $100." 2/5

"Deeper: Why should citizens have to pay back debts if the Federal government does not have to do so? Bail out student loans. Bail out bankrupt states and locals and their pensions. Cancel the rent. Cancel the mortgage." 3/5

"Why should anyone have to pay any debt if the Federal government has access to a money machine? Why work? Why should the federal government not just keep printing money and sending it to us?" 4/5

"Other countries are not so lucky as we are. Why should emerging markets pay back debt if the US does not have to? Bail them out." 5/5
If you need a reminder why the federal debt still matters, here's a must read from @JohnHCochrane.
https://johnhcochrane.blogspot.com/2020/09/debt-matters.html?spref=tw