The last time Republicans tried that trick (Trump’s presidency) everyone just spent it all on stock buybacks.
Which caused the market to surge into a bubble, and pop when bullish returns failed to materialize at the onset of COVID.
And the AI bubble is being driven by investors desperate for a new get rich quick scheme after crypto collapsed.
It’s a pile on effect from empty promises (businesses promising to eliminate the need for large portions of their staff) resulting in surging asset prices.
But the drive is the strong dollar plus cheap borrowing rates. The big investment in AI is happening through the FAANG stocks, not directly from crypto heavy investment banks.