We pay for everything. Or our kids kids will.
Not true. I explained how it works, and try as you may, you won't be able to link govt. deficit spending to your taxes.
Why do you think the dollar is only worth a fraction of what it was even 20 years ago?
There are lots of reasons why prices tend to go up. The money supply is not one of them. Increases in the money supply generally happen to boost investment and/or consumption.
Inflation keeps you poor.
Only if wages don't keep up with inflation. It's a weak labor market that keeps workers poor. Our businesses were making record profits very recently.
It greatly reduces the growth of the economy.
No, it doesn't. We generally get higher inflation when the economy is growing.
Almost a quarter of the federal budget is now used to pay just the INTEREST on that debt you love so much.
It still isn't coming out of your taxes. And the interest goes to the private sector.
Why is it the Federal Reserve now buying all those bonds? Because the private market for them has dried up.
Again, false. The Fed buys bonds to adjust the amount of reserves in the system, and to effect monetary policy. And there is still plenty of private sector demand for bonds.
BTW; that huge gov't debt is why you won't see interest rates much above zero ever again; interest rates have to be kept low so the gov't can continue to pay the interest on all that debt.
Well, at least you understand that the national debt isn't driving up interest rates. But paying interest at all, like issuing bonds, is a policy choice.
Of course that means you won't make any interest on your savings account, either.
Do you know why that is? It's because your savings aren't loaned out. Your savings are merely a cheap source of reserves, as far as banks are concerned. That interest you get on your bank accounts actually comes from the government and/or the Fed. Banks get interest on reserves, and you get a fraction of that.
Massive debt is what holds you down and keeps you down. The inflation it causes eats away your wage gains and destroys any chance for a better job because it slows down the economy to a crawl. Throwing even more debt at the economy won't help anyone except the 1%.
All money is the product of debt. Increased debt is how economies grow. And it obviously doesn't cause inflation, either, if you just check the data.
Starving the economy of demand certainly doesn't help out labor, either.
You have thrown out a whole bunch of incorrect assumptions in this post. Government debt isn't the boogeyman you think it is.