U.S. Deficit: Why so high and where do we go from here?

I recently read an article that referenced a Jeff Sachs’ article about our federal debt. According to Sachs, in 2000, the US Federal debt was $3.5 trillion, roughly 35% of GDP, Gross Domestic Product. For those not familiar with economics (me), GDP is the monetary value of services and goods. He says that if the debt would have remained at 35% of GDP, our deficit today would be $9 trillion. But it’s not. As of 2022, the…