You're closer to the truth than most would like to believe. And what we've seen is just the tip of the iceberg.
A trillion in deficit SO FAR this year, and the bulk of the "stimulus" won't be spent until next year.
BUT THAT'S A DROP IN THE BUCKET!
The fed has increased the monetary supply by trillions of dollars over the last year or so, with NO oversight from congress or the president. They "loan" that money into existence, basically.
The combined effects of all this will be massive inflation. Think carter-era. It will be the only method to grow the GDP in dollar terms and shrink the debt in value (not dollar value, actual value). This will be good for you if you're in debt to your eyeballs and have all fixed rates. It will suck if you're an investor trying to beat inflation.
No... This is just a reminder to all fellow boaters for when we have to pay a luxury tax on summer dockage, winter storage & a surcharge on boat gas we buy... Sorry if this offends you.. But we should all be offended by what is going on with our money....