Stated another way and what the gov and the MSM doesn't talk about is:
Stated another way, if 2006 debt had been at the 1957 debt ratio then 2006's debt would have been $19 trillion, not $48 trillion - - indicating excess debt in America today of $29 trillion. (note - if this chart were plotted as debt % GDP, instead of debt % national income, the curve would look near identical to this chart) Stated differently, in 1957 there was $1.86 in debt for each dollar of national income, but today there is $4.42 of debt for each dollar of national income. It also means that this extra $2.56 per dollar of debt produced zilch relative national income.
Great. What's our wealth?