Coronavirus Lifts Government Debt to WWII Levels—Cutting It Won’t Be Easy

Coronavirus Lifts Government Debt to WWII Levels—Cutting It Won’t Be Easy

  • Advanced economies no longer benefit from rapid economic and population growth of postwar period

As countries world-wide boost spending to battle the new coronavirus, government debt has soared to levels not seen since World War II.

Among advanced economies, debt rose to 128% of global gross domestic product as of July, according to the International Monetary Fund. In 1946, it came to 124%.

For now, governments shouldn’t worry about mounting…