It means the US must cut spending 30% or more which is the portion of the budget that is financed by debt. The dollar will probably soar short term in that case and markets and assets will deflate and likely stay deflated even when inflation picks back up.

Why? Because the judges, the congress, the military, the police, you name it will still be in place. So nothing will actually change. They will double down on stupidity and make even worse economic policies and borrow, print and spend even harder after a while. So the beginning of the end if anything. But lets see.