Debt at 74% of GDP? Where does he get that figure?
Every figure I see indicates that the USA’s present $16.4 Trillion in direct liabilities (not including Soc. Sec.) is 103% of GDP.
He’s not counting the “Social Security Trust Fund”.
That's David Brooks - alleged Conservative - playing a completely bogus accounting trick.
Brooks pointedly says “Public Debt.”
He doesn't count “Intra-Agency” debt.
That's when various agencies of the Federal Government - like HHS - “borrow” money from the U.S. Treasury or other Federal agencies.
In theory, this is money that the Federal Government “borrows” from itself.
The borrowed money has been SPENT, and HHS, and all the other agencies, have no source of income except the U.S. Treasury.