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The COVID-19 pandemic, the deadliest of its kind in a century, created a wave of human suffering and severe economic disruption. In April 2020, the U.S. unemployment rate reached 14.8 percent, a full four points above the previous post–World War II high.REF
Amidst concerns that the economy could spiral into a new depression as a result of pandemic-related economic restrictions, legislators passed five relief bills that authorized over $4 trillion in combined spending.REF The combination of record-setting spending and reduced revenue caused a surge in gross federal debt, spiking from $23.4 trillion on March 13, 2020, to $27.9 trillion on February 9, 2021,REF an increase of over $34,000 per household in less than 11 months.REF ....

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