Important to understand why so much fuss about spending and debt..
This graph is alarming to some....especially since the federal government is still spending 20-25% more than it takes in each year.
At what point does DEBT AS % OF GDP reach crisis levels where interest rates rise causing deficits to increase significantly faster than revenue? Nobody is quite sure.
Even if budgets were balanced with no more deficits, at an economic GDP growth rate of 3% per year, it would take 24 years of fiscal discipline for the debt to return to "normal" historical levels!
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