Summary

US federal debt is an issue that seems to have fallen out of public discussion. Yet behind the scenes, year by year, debt continues to grow at a rapid clip. Enter COVID-19 and the resulting economic shutdown, which will inevitably necessitate a new wave of stimulus spending from the government, one that might even surpass those which followed in the wake of the Great Recession. As the firehose of stimulus spending is opened, what had previously been a gradual incline of debt accumulation over the Trump era will spike. What will this mean for the long-term fiscal health of the United States?