"We need policymakers to come together, agree to reduce deficits ... and put our national debt on a downward sustainable path as a share of the economy."
M2 money supply actually had not increased for a while and only recently surpassed the previous peak in 2022. Meanwhile US debt and debt to GDP ratio increased modestly (and is in fact down from the COVID era peak ‘thanks’ to inflation) meaning that it’s mostly the treasuries market that was funding the new debt (i.e. borrowing)
M2 money supply actually had not increased for a while and only recently surpassed the previous peak in 2022. Meanwhile US debt and debt to GDP ratio increased modestly (and is in fact down from the COVID era peak ‘thanks’ to inflation) meaning that it’s mostly the treasuries market that was funding the new debt (i.e. borrowing)