Public debt is a problem that developed countries are going to have to address at some point, the only difficulty is when. Indebted nations can reach a point where paying the interest on the debt becomes greater than tax revenues and economic disaster soon follows. However, there are cases like Japan where they continue to rack up public debt beyond their GDP and the market goes on buying their debt anyway. There is always plenty of hand wringing when it comes to the US debt and thanks to Covid-19, the national debt has finally exceeded GDP for the first time since 1945. It’s hard to imagine that Congress almost had the national debt paid off in 1999. In 20 years we’ve gone from a 10 year debt-free plan to an unfathomable amount of debt north of 17 trillion. That’s what tax cuts will get you.