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If you still don't get it with regards to the US Deficit, here is an illustration to make it sink in...:
Get it now?
this is how we got here (courtesy of Richard Russell):
________________________ The MasterBlog
this is how we got here (courtesy of Richard Russell):
Private and public debt surged during the period from 1971 to today increasing by $50 trillion. During the same period GDP in the US rose from $1.1 trillion to $16 trillion today. Figure the ratio of debt to GDP at about 3 to 1. In other words, it's taken about $3 trillion in additional debt to produce each additional $1 trillion in GDP.
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