There is one very key qualification I would add to your observations:

Printing money is only a problem if it is done to shore up the economy and done so like the most successful examples, such a FDR’s New Deal. Handing tax breaks out has never worked and the US Republican party keeps believing in something for which there is no evidence. So, in the end, the Republican party will be singularly responsible for the relegation of the US to just another country scrumming with the rest. This has disastrous consequences for the preservation and promotion of western liberal democracy.