In fiscal year 2019, we spent $4.4 trillion. Then in the next three years, we spent $6.6, $6.8, and last year $6.3 trillion. The increases are mostly Covid expenses – increased welfare, payments to citizens (economic support), expanded Medicaid, student loans, education, etc. Here is the data.
None of the expansion was paid for; it was all borrowed. The Pandemic is over, but debt lingers on. We printed money and kicked off inflation. Covid expense hurts now.
Whatever spending discipline we had, we lost with the Pandemic. We must cut back and get our fiscal house in order—time to pay the piper.