U.S. National Debt
http://www.newsweek.com/us-national-debt-adds-1-trillion-six-months-surpassing-21-trillion-mark-855946

https://www.washingtonexaminer.com/news/national-debt-hits-21-trillion

The National Debt is a virtually meaningless figure.

If I owe $210,000, it may sound like a bad thing, but it really depends on my income. If my income is $10 thousand a year, it most likely means my debt is spiraling out of control and I better file for bankruptcy. On the other hand, if my income is $10 million dollar a year, I can simply take what I earn in about one week and pay it off.

To understand if the national debt is a real problem, we have to look at the national debt as a percentage of Gross Domestic Product (how much the country makes in a year). You can find that information here – https://tradingeconomics.com/unite…/government-debt-to-gdp. It includes a chart comparing other countries to the United States.
You can find an historical chart for the U.S. here: – https://en.wikipedia.org/…/National_debt_of_the_United…
Here is the latest chart: – https://www.thebalance.com/national-debt-by-year-compared…

Basically the ratio is now at about 108%. During Bush’s presidency, it rose from 54% to 83%. During Obama’s presidency, it rose from 83% to 104%. It rose to 108% in the first year of the Trump Presidency.
How does this compare to other industrialized countries?
Japan’s ratio is the highest in the world at 253% over twice the U.S. ratio. Italy is 131%. The United States is third at 108%. However, it is not much higher than Spain, 99% or France, 97% or Canada, 92%. Because of sanctions, Russia has an extremely low debt to GDP ratio of only 12%, about 1/10th of the ratio of the United States.

The worse year in the history of the U.S. was 1946 when the ratio reached 119%. It fell roughly half 61% over the next decade from 1946-1956. These are generally considered years of prosperity.

The only possible threat to U.S. economy for the foreseeable future (the next 20 years) is the rise of fascist-feminism and the rapid transfer of wealth and power to a tiny group of angry, ignorant, vicious and deeply psychotic women whose open agenda is the enslavement and death of half the human race (kind of like Thanos as I understand it (see “Avengers Infinity War” trailer).

Advertisements