I’m not that smart, but I think this should incentivize the government to spend more (probably the entire point of cutting rates in the first place), and issue more debt, increasing the US$ M2.

I fail to see how this has anything less than upward pressure on M2, unless you mean it will increase *more* than my prediction.

The 10% won’t be this year, but should be a minimum however long it takes to move throughout the economy, starting with Nancy Pelosi, of course.