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You shouldn't look at the debt alone. It's not inflation adjusted, and it doesn't account for the economy being far larger today than it was in the 1920s. Debt
by fny 5y ago
You shouldn't look at the debt alone. It's not inflation adjusted, and it doesn't account for the economy being far larger today than it was in the 1920s.
Debt to GDP is a better measure. We basically matched WWII on that metric, but the congressional budget office projects we'll exceed that going forward.
[0]: https://www.cbo.gov/sites/default/files/images/full-reports/2021/56977-fig1_debt-history-vs.png https://www.cbo.gov/sites/default/files/images/full-reports/...
[1]: https://www.cbo.gov/publication/57038 https://www.cbo.gov/publication/57038