by Andrey Dashkov
To battle the economic fallout caused by the coronavirus, governments around the world are raking in debt at a breakneck speed.
The U.S. alone added $4.2 trillion in debt since March 2020. In less than a year, the government created 1.4x more debt than it did to deal with the fallout of the Great Recession of 2008.
[…] The national debt is now almost 20% higher than it was before the pandemic.
And there’s no signs of slowing down.
The Biden administration is trying to pass a new $1.9 trillion relief plan.
And with new COVID strains appearing across the world… and the rollout of vaccines happening much slower than hoped… that likely won’t be the last of the stimulus – or growing debt. We could be in for another challenging year.