Federal debt held by the public as a percentage of GDP is the only way to gauge the sustainability of federal debt.
By this measure, according to the non-partisan Congressional Budget Office, the amount of federal debt held by the public reached the two highest levels ever during World War II and the latter stages of (finally deciding to win) The Cold War (not under Bush 43 and not during the present wars).
Federal debt held by the public as a percentage of gross domestic product (GDP).
By this measure, present federal debts are not desirable, but they are certainly not unprecedented.
Now, for the bad news…
1) Congressional Dems have been on a spending spree ever since they took over Congress in January of 2007.
2) It is a mathematical certainty that, absent massive Entitlement reform, we will soon drown (to DEATH) in federal debt:
3) We CANNOT tax our way out of this problem!
It is a mathematical certainty that raising taxes will NOT increase revenues!
4) Massive new Entitlements, such as National Health Care, will ONLY serve to hasten the fiscal DEATH of this great nation. IF this nation is to survive, we have ONLY ONE CHOICE. That choice is MASSIVE REDUCTIONS in Entitlement spending!
Click here to read the entire CBO report.