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Standard reply to debt rhetoric: US debt service costs measured against the economy are not particularly high historically: https://fred.stlouisfed.org/series/F
by ajross 4y ago
Standard reply to debt rhetoric: US debt service costs measured against the economy are not particularly high historically: https://fred.stlouisfed.org/series/FYOIGDA188S https://fred.stlouisfed.org/series/FYOIGDA188S
The 80's were much, much worse. If we were ever going to go bankrupt, it was in the early Clinton administration due to the Reagan/Bush spending boom. We got through just fine. Those bonds were all paid off decades ago.
Be very very very cautious any time someone comes at you with this kind of hyperbole about federal debt. They're selling you something.