Even tens of millions of potential supporters of the GND would probably hesitate to go all-in for fear of “adding to the debt” and seeing their disposable income “reduced by an amount” corresponding to the cost of the GND.

There is nothing to be gained from issuing Treasury debt to match deficits, so there would be no “debt” associated with the effort. The US Congress owns a monopoly patent on the dollar and never needs to “get” dollars to spend. The mandate to match deficits with bond issues is a throwback to the gold standard that allowed Congress to anticipate taxation and overspend the value of the gold reserve by removing cash reserves from circulation for a specified time. The dollars required to purchase them must already exist, so bonds are not a “funding” mechanism.

I don’t understand the logic of thinking the spending for the GND would in any way reduce disposable income. All federal spending is currency injection into the private sector, even with bond sales. Monetary (across the board) inflation isn’t possible with a fiat currency and floating exchange rates if that was what you referred to. Spending would have to be moderated to not place stress on resources available, but a small amount of inflation would be good. The Fed has been missing its inflation target for a few years now.