The US debt reaches $34.58 trillion, more than the combined GDP of China, Japan, Germany, France and the United Kingdom. For the first time since the Second World War, it reached the threshold of 100% of American GDP, compared to 79% before the Covid crisis.
The budgetary largesse of the Trump and then Biden administrations accelerated the slope. Public spending which would be more of a recovery policy in times of recession, than of an economy with sustained growth. There was not…