Clever Lies are still lies. US had the highest debt as a percentage of GDP by the end of second world war at 120% of GDP. Yet by 1956, it was back to just 60% of GDP. Today, US debt stands at 120% of GDP and is projected to rise each year as a percentage of GDP. By 2050, it will reach 200% of GDP. I do not subscribe to debt doomerism, but we still have to address this issue. Last year, interest payment was 5% of the budget and by 2031, it will reach to 11.8% of the budget according to Congress budget office and by 2050, it would reach 25%.If democrats at least supported business innovation with low taxes and low regulations, we would have higher GDP growth, which would significantly reduce debt as a percentage of GDP. But instead we are constantly expanding administrative state that hurts business innovation and any infrastructure upgrade or development ( California Bullet train, Keystone XL etc). We cannot continue to have high deficits without economic growth. Isn't the whole point of Mr. Krugman's economic theory based on deficit spending to spur growth? Yet we have seen years of low growth. So, now its time to pivot.

Clever Lies are still lies. US had the highest debt as a percentage of GDP by the end of second world war at 120% of GDP. Yet by 1956, it was back to just 60% of GDP. Today, US debt stands at 120% of GDP and is projected to rise each year as a percentage of GDP. By 2050, it will reach 200% of GDP. I do not subscribe to debt doomerism, but we still have to address this issue. Last year, interest payment was 5% of the budget and by 2031, it will reach to 11.8% of the budget according to Congress budget office and by 2050, it would reach 25%.If democrats at least supported business innovation with low taxes and low regulations, we would have higher GDP growth, which would significantly reduce debt as a percentage of GDP. But instead we are constantly expanding administrative state that hurts business innovation and any infrastructure upgrade or development ( California Bullet train, Keystone XL etc). We cannot continue to have high deficits without economic growth. Isn't the whole point of Mr. Krugman's economic theory based on deficit spending to spur growth? Yet we have seen years of low growth. So, now its time to pivot.

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