Many words can go with "lousy" for example lousy job,lousy situation,I am feeling lousy.Anything that you want to connect with the word bad.It is really a synonym of bad.

Almost any word you can think of can collocate with 'lousy' - it's an all-round negative word to use in informal contexts. And that's the key thing to remember - that it is informal. It would be inappropriate to use it paired up with a formal word in a business situation, or in a serious essay, or in many other contexts. Yes, it's a synonym of 'bad', but that doesn't mean it can replace 'bad' ( a neutral term) in all contexts.

Lousy originally meant "filled with lice" (such as a lousy bed or lousy bread), so rarely you will hear people use it metaphorically. "The bar was lousy with alcoholics." "The essay was lousy with spelling mistakes."