"The natl debt ‘is merely a historical record of all of the dollars that have ever been spent by our govt but not taxed back. They exist as a form of interest-bearing currency in the form of US Treasuries: interest-bearing dollars"

Any government that issues it’s own currency and doesn’t peg it to anything- gold, another currency, can afford to do what the US, UK etc did during the pandemic- invent loads of money. Inflation is the limit and that only arrives when production is limited by capacity - ie full employment or scarce resources.