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Weren't there some expensive wars around that time? I think I'm recalling that correctly. Seriously, though, a fairer point of comparison might be the late '60
by dbatten 8y ago
Weren't there some expensive wars around that time? I think I'm recalling that correctly.
Seriously, though, a fairer point of comparison might be the late '60s and early '70s - right when Boomers were entering adulthood. National debt as a percentage of GDP was in the 30s around then.
Still, your response to the parent comment is still somewhat justified - yes, national debt is higher now, but it's not like it's orders of magnitude higher, right?
- eppsilon 8y agoYeah, it's not an unprecedented situation. What's concerning is that we have this level of debt after a period of relative peace and stability. (Though I vaguely recall there being some expensive wars recently too.)