The US hit public debt of 135% 2 years ago. The US has not had an annual surplus since 2001 and in the last 2 years had a deficit of about 3T(!).
I know, better rating, world reserve currency, etc. Just adding some context to "fiscal responsibility".
Their credit rating has been downgraded to CCC (ie DEEP JUNK)[0]
They're looking at financing needs off 15% of GDP:
>Both JPMorgan and the International Monetary Fund warn the country is on an unsustainable path, with gross financing needs set to surpass 15% of GDP from 2022 forward — and public debt on track to hit 96% of GDP by 2026 under current policies. [1]
[0]https://www.fitchratings.com/research/sovereigns/fitch-downg...
[1]https://www.cnbc.com/2022/06/25/el-salvador-bitcoin-experime...