This has absolutely nothing to do with inflation arguments. But I'll engage anyway. Federal debt service costs as a percentage of GDP over time: https://fred.stlouisfed.org/series/FYOIGDA188S
There was indeed a very large increase in 2020-21 due to pandemic assistance programs. But the actual cost of the debt remains about half of what it was in the mid-80's under the Reagan economy (where the absolute size of the debt was smaller but the interest rates required to service it were higher).
I think we came out of the 80's just fine. We'll survive this too.
Comments
This has absolutely nothing to do with inflation arguments. But I'll engage anyway. Federal debt service costs as a percentage of GDP over time: https://fred.stlouisfed.org/series/FYOIGDA188S
There was indeed a very large increase in 2020-21 due to pandemic assistance programs. But the actual cost of the debt remains about half of what it was in the mid-80's under the Reagan economy (where the absolute size of the debt was smaller but the interest rates required to service it were higher).
I think we came out of the 80's just fine. We'll survive this too.