Doug Henwood wrote: > You're ignoring debt service, which was over 4% of GDP in the Reagan years, > and a rising debt/GDP ratio. It was 32% of GDP when Bush took office, and 44% > when he left. It's likely to rise past 60% fairly soon.<
The good news is that debt service is down because of the Fed's side of the stimulus program, no? The debt/GDP ratio was over 100% in 1945, but low rates (because of a Treasury/Fed deal) kept it manageable. -- Jim Devine / "Segui il tuo corso, e lascia dir le genti." (Go your own way and let people talk.) -- Karl, paraphrasing Dante. _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
