After what I've been hearing in the news, I was surprised to see the Federal debt running almost flat in the Trump years:
Graph #1: Gross Federal Debt as a Percent of Gross Domestic Product |
But also nothing like the increase of the 1980s. From the news reports, I thought Trump might be following Reagan's plan. That's apparently not the case.
Next graph: Debt other than Federal, relative to the Federal debt:
Graph #2: Non-Federal Debt relative to Federal Debt |
That's too bad. It means we can look forward to a listless economy. If the ratio was running uphill as it did from 1994 to 2000, and in the years before 1974, we could expect a strong, vigorous economy.
Don't hold your breath.
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