Federal debt as percent of GDP Dr. Bill Conerly based on data from Office of Management & BudgetThe U.S. government’s debt exceeded gross domestic product in the recent fiscal year. Another big addition to debt will come with the new $900 billion relief bill passed by Congress. The more likely problem from our debt is that it converts into the money supply that fuels inflation. If the relief bill would stimulate the economy, business and consumers might end up better off, but that won’t happen. The bill won’t come due in 2021 and probably not in 2022, but eventually we, the people, will pay the bill.

Source: Forbes December 29, 2020 12:22 UTC