The US crossed $40 trillion in gross debt

232 years to hit the first $10T 9 years to add the next $10T Then 4.4 years. Then 4.6 years. COVID alone added $4.5T in a single year. WWII still beat this chart as a share of GDP. But here’s what’s new: - Public debt is larger than the economy - Interest is around $1T a year, rivaling defense - This is peacetime, near full employment - The deficit is still around $2T and not closing TLDR: unfettered government spending will destroy America (see Cloward-Piven)