Does the National Debt Matter?

In the second quarter of 2008, U.S. federal debt held by the public totaled about $5.3 trillion, or 35% of gross domestic product (GDP). This figure grew to $20.5 trillion—or 105% of GDP—by the second quarter of 2020. To put it another way, the national debt has increased 400% in 12 years, while over the same period, national income has grown by only 30%.
Read more: https://www.stlouisfed.org/publications/regional-economist/fourth-quarter-2020/does-national-debt-matter?source=Snapzu