It looks like our current debt is at $7.6 trillion (which is actually quite close to Japan's public debt), and our GDP was $12 trillion if we annualize the 2004q4 data, so that would be 63%.
However, we pay a good bit more in interest for roughly the same amount of gross debt as Japan since our interest rates are much higher.
Still, I'd rather be in our situation than their's.
Our additional debt last year was what, 4% or so of GDP?
What was their additional debt as a % of GDP?