[Bobber58]

Debt in the U.S., in its traditional definition, has reached 220% of GDP, exceeding the previous maximum of 190% of GDP in 1929.

GDP is about 10 trillion...we're 22 trillion in debt???

[sourcery]

GDP is about 10 trillion...we're 22 trillion in debt???

The article was written in 1997. We're in debt to the tune of $33 trillion. There was great thread posted today that deals with this subject.

[sourcery]

[Willie Green]

GDP is about 10 trillion...we're 22 trillion in debt???

Don't be misled by those who simply compare GDP to the National Debt.
They intentionally neglect that GDP must also service all other forms of debt: debt incurred by state and local governments in addition to private sector debt (such as household and consumer debt.) As a nation, we are buried alive in debt, and it's not just the government's doing (even though the government is the single most irresponsible entity)