National debt is surging higher. Here's why worry is heading lower.
While the economy is roaring back and the pandemic looks like it might finally ease, one troubling trend remains: The United States is piling up debt as never before. Federal deficits in 2020 and 2021 are certain to be the biggest relative to gross domestic product since World War II. By 2031, the federal debt will reach an all-time record share of the nationâs economy, the Congressional Budget Office forecasts, even if current spending doesnât change. Yet economists appear less concerned than they were five years ago. And Democrats and even some Republican policymakers have plan...