Question

What are some reliable and effective ways, reasonably proven to work, in which the national debt could decrease, not to $0, but decrease? Based on the current situation, could the economy get better in a post COVID-19 world? This two questions in relation to the national debt of the United States. Thank you.

Answer 1

The national debt could decrease, if government expenditures decrease or taxes and other government revenues increase. Based on the current situation, the economy could get better in a post COVID-19 world, if the government use expansionary fiscal and monetary policy to stimulate the economy for its fast recovery.