Monday, June 23, 2008

The U.S. IS "fiscally responsible."

The national debt is $9.4 trillion and that is a big number, to be sure. Yet, when viewed as a percentage of GDP it is far lower than where it was at the end of WWII. (See chart.)

And the debt held by the public is actually shrinking and is now at the lowest level in 24 years as a percent of GDP

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