A bit optimistic, given disaster capitalism/predatory lending will be the next step, for those actually controlling the capital, which is not the government.

Not only will it take hold in the private sector, as ever more distressed assets are bought up for pennies on the dollar, but those holding much of that government debt will likely find ways to trade it for remaining public assets, like mineral rights, highways, water rights, parks, etc. Like they do to all the other broke, "third world" countries.

Then we get real oligarchy, not just this behind the curtain variety.

Eventually we will have to come to understand that as the contract enabling mass societies to function, money is the quintessential public utility, not just a commodity to mine from society.

Though it won't be the economists pointing this out. Their livelihood depends on ignoring the various elephants in the room.

https://medium.com/discourse/the-worm-in-the-apple-of-modern-capitalism-a46081000d5a