3 years ago
Does the National Debt Matter?
In the second quarter of 2008, U.S. federal debt held by the public totaled about $5.3 trillion, or 35% of gross domestic product (GDP). This figure grew to $20.5 trillion—or 105% of GDP—by the second quarter of 2020. To put it another way, the national debt has increased 400% in 12 years, while over the same period, national income has grown by only 30%.
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