> Because we both know that yes that money will enter the money supply, just not directly.

Sure, but it's going to do it through the borrowing/lending we presume will be allowed by congress (raising the debt ceiling) eventually anyways.

This just allows that to happen regardless.

This (to me) is not so much a financial tool as a political bludgeon to work around that fact that the US congress is essentially useless at the moment.

I still don't think it's a good idea, but bad ideas start seeming like good ideas if the people making the rules are utterly useless (see: congress).