One-year T-Bill rate: 2.09%.
The US government borrows to make up budget deficits. As the US government is the single most creditworthy borrower in the world, it can sell its debt instruments at the lowest interest rate available.
Even with the contraction in Q1 2022, annualized GDP growth is 3.4%. This means that the government--the nation--is borrowing money at 2% to finance economic growth of more than 1 1/2 times that amount.
But wait, there's more! With an inflation rate of 8%, a borrowed dollar can be paid back in a year with a dollar that is only worth $0.92! So, add that to the 2% interest, and the US government is buying dollars for 94 cents!
It would be stupid to not borrow money under these conditions.