Want an example. See Japan with debt as a percent of gdp that is almost twice the US, Been in and out of recession for 30 years

https://asia.nikkei.com/Economy/Inflation/Japanese-inflation-hit-41-year-high-in-2023

lost decades

Back in the 1980s, Japan performed something of an economic miracle. It transformed itself into the number two economy in the world. From Walkmans to Toyotas, the U.S. was awash in Japanese imports. And Japanese companies went on a spending spree. Sony bought up Columbia Pictures. Mitsubishi became the new majority owners of Rockefeller Center. 

But in the early 1990s, it all came to a sudden halt. Japan went from being one of the fastest growing countries in the world to one of the slowest. And this economic stagnation went on and on and on. For decades.