The federal government’s debt is just under 100 percent of GDP – and it is projected to grow to 115 percent of GDP in a decade, and 180 percent of GDP in thirty years. Mark Zandi, Chief Economist at Moody’s Analytics, discusses the reasons debt increased significantly before the pandemic, its dramatic rise since then, and its expected further increase. He also explains how high debt adversely affects people’s living standards as well as the ability of the government to respond to bo...
