To start, I hate boomers too. They created the monster, fed him and allowed him to grow unrestrained, all along being prodigiously clueless about the implications.

There is no proportion of "public" economy, there is only private economy, and public spending. Whenever public spending exceeds what the private economy provides, it means it's getting money somewhere else: the printer. That's the only place where non taxed money can physically come from, as it does. As new money enters the economy through public spending, new consumers appear for a non existent production. Pressing demand for a limited offer pushes prices up, and the rest is history.