You're thinking is too linear and simplistic.
When the government borrows money the vast majority of it, 85%, it owes to itself. i.e. its own citizens. That's not debt that's money supply. As long as your economy is growing and more goods and services are being produced and there is enough to meet demand it's fine.
All of those are under normal circumstances true with the exception of the pandemic caused by that idiot Trump (remember kids Obama had a similar pandemic and he kept it in China). We do have a bit of a housing shortage because the government subsidies we were pumping into the back end to prevent that got taken away post 2008 so we never put them back because of course we didn't.
Now we do owe $7 trillion overseas. And just based on your comment you don't know what a fucking Petro dollar is.
America uses our national debt to artificially inflate the value of the US dollar. That's the Velvet glove. Behind that is the iron fist of the US military specifically our air force and all those bombs. Like the old emo Philips joke the Chinese come and ask what we spent the money on and we say, all these bombs...
The elevated and inflated value of the US dollar means that we get trillions of dollars worth of imports for a fraction of their real world value. It's basically imperial tribute but we don't like to talk about it.
There is one problem and as usual it is caused by that fat orange turd.
During the covid crash he gave something like 15 trillion dollars to the top 1% on top of an additional $5 trillion in tax cuts. Now he wants to do another 7 trillion. That's on top of the 50 trillion or so we have moved from the working class to the top 1%, since 1970.
We are basically in the same place we were right before the Great depression.
Climate change means that we have food shortages developing and while there is enough food there isn't so much of it that it's cheap and affordable and doesn't impact the economy. We could fix that but we won't.
So there's your dust bowl. Now we have an idiot doing a massive tariff war so he can avoid raising taxes on the wealthy while he slashes taxes on them and slashes regulations. And finally he's gearing up for a large-scale war.
None of this is something you are going to get from our current corporate media because the way the Republican party wins elections is using overwhelming propaganda to get to about 47% and then using voter suppression with just a hint of outright cheating to get over the finish line. And because we are a winner-take-all voting system that means they get everything.
They are coming for your house. Elon Musk and Peter thiel are vying to see who will be the first trillionaire. It's not about how much wealth they have it's the number in the system. And one great way to get to that is by consuming your wealth. Which is your house.
And unlike 2008 because we haven't been funding the subsidies to keep things affordable you won't be able to just go to an apartment. You will be homeless.
I wonder when they finally do take your house in the next few years if you will be posting this kind of bullshit from your car. Assuming they didn't repossess it...