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Except that a trillion dollars twenty years ago was a lot more than it is now, just as that $20 bill won't buy as much as it did then. Not only that, but there are more people now than then, so the debt is spread over a larger population, and...the nation earns more money now.The percentage of GDP is the most honest measure of the debt. When we see the percentage going up, that's a sign that the government is overspending.
Except that a trillion dollars twenty years ago was a lot more than it is now, just as that $20 bill won't buy as much as it did then. Not only that, but there are more people now than then, so the debt is spread over a larger population, and...
the nation earns more money now.
The percentage of GDP is the most honest measure of the debt. When we see the percentage going up, that's a sign that the government is overspending.
