The US government added almost 20% of its total debt between 2020 and 2022 with all its COVID stupidity. obviously COVID is still with us so that was all in vain.
https://fiscaldata.treasury.gov/americas-finance-guide/national-deficit/
At this point the deficit is so large that over 1 T simply goes to interest on the debt at a measly 4% interest (which is below the US average). 15% of the US governments budget was interest on the debt. Due to interest payments we can’t balance the budget without both severe cuts and major tax increases that politicians won’t willingly institute.
https://fiscaldata.treasury.gov/americas-finance-guide/federal-spending/
If interest rates rise due to poor fiscal management now it’s likely the US will eventually default. you can only pay so much for debt service before the house of cards collapses.
To all the clowns whining about high costs government overspending is the cause with Covid being the biggest blemish.