Mises Daily
Author:
Thorsten Polleit
Online Publish Date:
Debt Growth Exceeds Income Growth In Q2 2009, total debt outstanding in the United States — financial plus nonfinancial debt — amounted to 373.4% of GDP. [1] At the start of 1952, the debt-to-GDP ratio stood at only 130%. In fact, in the last decades the rise in total debt has increasingly outpaced nominal income — a development which gained