... why would it? there's no magical limit, not even to debt-to-GDP ratio. as long as the state can collect taxes it can service debt.
during WW2 it was also this high. the US economy is still growing. and inflation is around 3%. not the usual target 2, but it's crazy good considering the recent pandemic and land-war-in-europe "situation".
eventually spending has to decrease ... or taxation to increase (US tax to GDP ratio is around 27% while OECD average is around 34%) ... and the US demographic stats are looking much better than a lot of countries'.
the feeling of impending doom is definitely not great, but it's a (social) media phenomenon.
during WW2 it was also this high. the US economy is still growing. and inflation is around 3%. not the usual target 2, but it's crazy good considering the recent pandemic and land-war-in-europe "situation".
eventually spending has to decrease ... or taxation to increase (US tax to GDP ratio is around 27% while OECD average is around 34%) ... and the US demographic stats are looking much better than a lot of countries'.
the feeling of impending doom is definitely not great, but it's a (social) media phenomenon.