The wild amounts of dollar printing can't continue once the dollar loses its status as world reserve currency, which is happening as we speak as other major nations are gradually moving away from the dollar as a medium for mutual exchange of goods. The national debt continues to haunt the US, and will become an extremely oppressive force on the economy in the future. These plans sounds like a fairy tale. The financial strategy during covid will eventually become off-limits, so long as US remains dependent on import of goods. The US economy will eventually require a complete overhaul, which will be a nightmare for the US, and probably for the rest of the world as well.
How is this better than a normal free bank account for everyone? What is the advantage of using a digital ledger for this?
No more cash, so government can track your spend and where you spend. And govt/court can halt your account.
An op-ed from a former FDIC Chair and former Assistant Secretary of the U.S. Treasury for Financial Institutions
When CBDC comes, it will surely be firmly attached to basic income.