Fundamentally what you want to look at: https://tradingeconomics.com/united-states/government-debt-to-gdp https://tradingeconomics.com/united-states/government

Fundamentally what you want to look at: https://tradingeconomics.com/united-states/government-debt-to-gdp https://tradingeconomics.com/united-states/government-debt-t... The US government has been spending unusually high since 2020. It doesn't matter why. When the private market no longer wants to buy the US government's debt: https://tradingeconomics.com/united-states/central-bank-balance-sheet https://tradingeconomics.com/united-states/central-bank-bala... It shows up as imbalance on the central bank's BALANCE sheet. In 2009, they broke(you could call this bankruptcy but no such mechanism exists for the central bank). It was primarily the collapse of fannie and freddie. For 10 years they never managed to find balance but at least in around 2015 to 2019 they stopped rising and were dropping. The problem in 2019-2020 is this imbalance got way out of wack. More than doubling but it's worse, there's a counter balance to this imbalance. They are listing 'assets' of very low interest rate bonds. These aren't assets, these are liabilities. If they had recovered from 2009 and then 2020 happened, then perhaps we can argue they are assets but it's not true. Hence this article where they are fueling losses. These assets are becoming liabilities is the loss. Yes, for about half a year they have been clawing it back. Inflation is out of control and only by reducing money supply are they finding any control over inflation. Overall this is great news but it will have quite a profound negative effect on the economy. More importantly, it means retirees are headed back to work.