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jussij | 2 years ago

Firstly, while total debt might have quadrupled, in that time the size of the economy has also grown, and that means the debt has become easier to finance. Debt sits at about 130% of GDP, and was about 68% of GDP back in 2008, meaning when measured against the size of the economy it has not yet doubled. Also, by comparison debt to GDP hit 116% in 1946 and managed to return to 31% of GDP in 1974, showing that given the political will, the USA has no trouble paying down its debts.

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fyrn_|2 years ago

The US economy had a huge boom from 1946 to 1974, powered by amazing demographics and advances in technology that we don't have today. I don't think political will is what made that possible, just good timing.