Many analysts on Wall Street predict that the economy is about to break out to the upside and show significant growth. Others are looking at what the Biden administration wants to spend. The World Bank found that if the debt-to-GDP ratio exceeds 77% for an extended period of time, it slows economic growth. Every percentage point of debt above this level costs the country 0.017 percentage points in economic growth.
The national debt as of March 21, 2021 stood at $28 trillion. The Biden administration is looking at adding another $4 to $6 trillion additional debt. At the end of 2020, the…