Washington Barely Notices Soaring U.S. Debt

New York Times: “The U.S. government learned last week that it may have reached an unfortunate milestone: The size of its debt surpassed the nation’s total economic output.”

“It was a striking imbalance, according to early estimates, one that the country has experienced only in rare circumstances — briefly during the pandemic, and in the aftermath of World War II. But the development barely seemed to register in the nation’s capital, where few policymakers bothered to acknowledge the latest warning sign about the government’s poor fiscal health.”