Ryan Adams
👤 SpeakerAppearances Over Time
Podcast Appearances
federal debt, don't we?
Like this has got to hit us.
I saw last week, David, that this is the first time since 1946 that
You remember what happened in 1946?
Yeah, I was there.
Yeah, okay.
In one of David's previous lives.
The US had just fought a war.
And so all the war bonds, all the debt, we just passed the federal debt held by the public as a percent of GDP, 100%.
And the only time we've ever been higher was 1946.
1946.
Mm-hmm.
That's right.
The government debt has never been higher is what that means.
We're at wartime level debts.
The level of debt that it took to go defeat Hitler and the Nazis, that's the level of debt we're in right now.
And look, look at this.
We did this in 2000, the year 2000, which is in our lifetimes.
We were at 31%.
So since the year 2000, we went to 100% of federal debt held by the public as a percent of GDP.