That's typical of governments going through a deleveraging. Ray Dalio's "How the economic machine works in 30 minutes" video on youtube explains the situation q

That's typical of governments going through a deleveraging. Ray Dalio's "How the economic machine works in 30 minutes" video on youtube explains the situation quite well. That said though, the money obtained for this stimulus was largely printed by the Fed (a horrible decision IMO). But I wouldn't put the blame for this mess solely on the Fed and government. Really it's society's collective greed, self-centeredness, incompetence, and financial irresponsibility of overpromising/can-kicking for several decades that's got us here...