Hard to know where the problems are, but extreme situations like this cause stress throughout the system. If I had to look someplace first, it would be corporate debt.
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What you always have to look at is the debt to income ratio. Writers love to focus on huge debt numbers, but unless they compare that with income they aren’t telling you anything.
In the case of the national debt, it has to be compared to the percentage of the GDP. And to the percentage of tax receipts that are required to cover interest payments.
IIRC federal government spending since 1953 has fluctuated from 17% to 24% of GDP. It was running about 20% before this current pandemic excitement.
For 2019, net interest payments on the national debt amounted to 9% of federal spending. During the 1990s it was closer to 15%. Some of that drop is due to the very low interest rates on the current debt, which of course won’t be permanent.
Basically the percentages aren’t out of line despite the bigger numbers. Some of the bigger numbers are due to inflation’s erosion of the dollar, some is from growth of the economy.