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To: AdmSmith; Berosus; bigheadfred; Convert from ECUSA; dervish; Ernest_at_the_Beach; Fred Nerks; ...
drives national debt to 80 percent of GDP

13 posted on 01/06/2010 4:32:51 PM PST by SunkenCiv (Happy New Year! Freedom is Priceless.)
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To: SunkenCiv
"drives national debt to 80 percent of GDP"

According to this site, Senator Judd is understating the problem.

In 2010, US GDP is $14.7 trillion.
US national debt is 98% of GDP = $14.4 trillion.

In January 1940, on the eve of WWII, national debt was 42% of GDP.

From 1969 through 1982, national debt was about 35% of GDP.

The only time it was ever higher than today resulted from the peak of WWII spending: from 1944 to 1947.

14 posted on 01/07/2010 4:50:59 AM PST by BroJoeK (a little historical perspective...)
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