There is no debt crisis

[dan_bgblue]

After the Great Depression and in the lead up to World War II, the United States debt to GDP ratio was over 100%. And what did we get for that? Not only the resolution of a major world conflict but the New Deal, a package of government stimulus programs that rebooted the economy and created two generations of broadly shared prosperity in America.

Today, the debt to GDP ratio is 60%. So what exactly is the crisis?

Some economists say the more correct measure is the ratio of interest payments to GDP, in which case our current interest-to-GDP ratio is at one of the lowest levels in the last 50 years.


Linkage

[cattails]

Spend more, take in less, it ends somewhere

[CattyWampus]

When I went to the link, I didn't read any further than the writer of the article.

[CitizenBBN]

The people at D&B, Standard and Poore and Moody's would disagree.

It does go right to Obama's fiscal approach though. Spend on poverty, subsidize people who can't afford homes again, and borrow it all. Don't even bother with Congress approving the borrowing, just keep borrowing.

[jazyd]

keeps them in power as more are added to their voter rolls and bribe them on election day, has worked well the last 4 years and this years election.

I think the only way we can get 'them' out of office is for everything to get so bad that even the welfare turn to someone else, another party. But it might be so bad it can't be turned around in 4 years, 'they' will once again to listen to the lies from 'them' and put 'them' back in office.

Where is the island we are taking over? good sunshine, fishing, relaxing, good fertile land to grow food and raise cattle because I am not going to be w/o my beef.

The people at D&B, Standard and Poore and Moody's would disagree.

It does go right to Obama's fiscal approach though. Spend on poverty, subsidize people who can't afford homes again, and borrow it all. Don't even bother with Congress approving the borrowing, just keep borrowing.

[jazyd]

ding, ding, ding, we have a dingbat.

[Doc]

The difference is that in the mid-40's the war ended and with it all the associated spending. The current spending is primarily entitlement spending. Some of it is "war associated" due to the conflicts in Afghanistan etc but the entitlement additions is a big part as well