That's what the Fed buying $120B a month in Treasuries is for. You don't really think people accept negative 5% real yields on their investments?

From the article:

> For the first four months of the 2022 fiscal year that started Oct. 1, the Treasury reported a deficit of $259 billion, a 65% decline from the year-earlier deficit of $736 billion.

At $120B a month basically the entire deficit is being printed away.