"When the government hands out money in the form of debt it creates that money out of thin air. " No it isn't, that money comes from the bond market, not thin air. And bond rates really matter. We can expect the bond rates the U.S. must pay to borrow to raise due to no fiscal discipline in Washington (always cutting taxes on the wealthy because they "create jobs".....create jobs for themselves).
Washington does other stupid things, like propping up the private medical insurance market causing Americans to pay more and still get screwed for a major illnesses rather than going to a single-payer system. Small companies are getting priced out because they can no longer afford medical insurance for their employees, the ones that they are able to cover. When the opportunity came to have Medicare do deals with Big Pharma for drugs, the lawmakers decided that would make too much sense and destroy their campaign contributions from Big Pharma. el Bunko is in bed with Big Pharma and doesn't give a rat's ass about health care costs.
Another driver of U.S. debt going forward will be Defense and the way el Bunko is destroying the trust of U.S. allies in the U.S. That will increase U.S. military costs over time. As usual with el Bunko, he only cares about the immediate Now and doesn't give a damn about the future.
Also, the U.S. trashing environmental standards thus polluting the U.S. with chemicals and pumping more CO2 into the atmosphere; the latter will dry out the U.S. West faster and the Midwest. It will also cause energy prices to go up in the U.S. and increase acidification of the oceans. Fish are already voting with their fins and heading away towards the N. and S, poles. This causes fishermen to go further to catch the poor buggers before they are all fished out.
Also this will decrease U.S. economic activity and decrease government revenue in the guise of higher taxes and lower revenue. el Bunko must have his cake Now and screw future Americans.