America’s public debt crossed 100% of GDP last week—and that’s bad news for everyone
Doubtless, some of the increase in debt can be traced to past crises: the 2008 financial crisis and covid disruption of the early 2020s, for instance. However, in the years since, thanks to persistent and growing budget deficits, the US government’s debt has grown by leaps and bounds, even as economic growth has held up.
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