I think panic is unjustified. A lot of the deficit is essentially a baked in inflation of the already existing debt. If US budget deficit was 6.4% in 2024 and d

I think panic is unjustified. A lot of the deficit is essentially a baked in inflation of the already existing debt. If US budget deficit was 6.4% in 2024 and debt to GDP ratio was 124%, inflation 2.9% and GDP growth 2.8%, the budget deficit actually meant a decrease, not growth, of debt to GDP ratio. And some slight increase of debt to GDP ratio is normal because of population ageing: that debt is boomers' pensions funded by everyone else. Just normalise it, it's not a problem at all.