It means everyone gets poorer, and the government has less revenue. At a certain point, the US Government will no longer have anyone to take money from to squander.
Less demand on goods raises their prices and makes them more sparse. There is inflation currently but it is was masked by cheaper oil prices. Wait until these commodities meet demand. This is going to be a train wreck, I assure you.
Just a few will be able to get on a plane and leave this place when it is all said and done – after they have wrecked it totally.
Hopefully the lawmakers will be trapped here with the rest of us.