The US National Debt balloons to over $35 Trillion dollars exceeding 100% of GDP and peaking at the highest levels since World War II following Great Recession and COVID bailouts, and period of high deficit level spending.

 

Significance:

  • Interest on Debt exceeds $1 Trillion dollars alone
  • Interest payments exceed cost of US Military, move into 3rd largest budget expense
  • Period marked by High Inflation
  • Looming decisions on higher deficits, more taxes, lower spending, or higher inflation

 

Learn More

Tax Project Institute

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