[procaryote]

The absolute amount of debt isn't as interesting as it's percentage of GDP, or as percentage of revenue. If US productivity improves faster than its debt grows, the debt becomes less of a burden relatively.

https://fred.stlouisfed.org/series/GFDEGDQ188S

Of course, the long term trend there isn't great either. It was OK until the financial crisis of 2008, after which it grew to around 100% debt to GDP, which is usually seen as a warning level. Then it grew again very sharply during the pandemic and today is around 121%.

The apparent pattern is that it grows during recessions, but stays pretty flat during good times, and as the current administration seems to want to have recessions for fun, confidence among lenders may have been shaken