Quote:
Originally posted by Colin
The US debt relative to the size of its economy is average among G7 nations. It's about 61% right now I think. This is less than it was in the mid-1990s. It's also considerably less than Canada's was just 6 years ago. Interestingly, Canada has reduced its debt to just 37% in those few years.
The US has had similar waves of higher and lower debt in the past. It was once in excess of 100% (like Italy's and Japan's is today). It reached a low of 35% in the late 1970's (and then increased to 50% under Reagan).
The US debt was over 50% from 1943 until 1963.
The US economy is 45 times larger than that of the 20th largest economy. That's why its debt seems that much higher. Many nations have similar debt to the US compared to its size.
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Yes but the continued dip into far-from endless pockets to cover the cost of war certainly isn't going to help
