I don't know what it means, I was just doing some math. In 1929, GDP was 101444 M, from the chart Debt/GDP was about 175% Total Debt/101,444 = 1.75 Total Debt = 177527 M In 1933, GDP shrunk to 68,337, Debt/GDP was 265% Total Debt/68337 = 2.65 Total Debt = 181093 M Not a big difference at all - the steep rise is due to sharp decrease of GDP. This actually makes the angle of ascent since the early 80's more terrifying - it is rising because debt is rising much, much faster than GDP. I wish this chart went back a little further to see what it looked like leading up to 1929.
Don't know where you got your chart from, but it's not official data. Official data: current debt = 10.6 trillion: http://www.treasurydirect.gov/NP/BPDLogin?application=np *EDIT* ah, most probably you're referring to the debt plus future obligations like unfunded Medicaid, Social Security, Medicare and veterans' pensions
Courtesy of Treasury, here are the dollar amounts of all federal debt for the years in question (plus some). All nominal dollars, of course. Very interesting that federal debt was in a decade long *decline* leading into 1929. What's really astounding about this is that taxpayers are still paying interest on the debt used for World War I(!)... 06/30/1945 258,682,187,409.93 06/30/1944 201,003,387,221.13 06/30/1943 136,696,090,329.90 06/30/1942 72,422,445,116.22 06/30/1941 48,961,443,535.71 06/29/1940 42,967,531,037.68 06/30/1939 40,439,532,411.11 06/30/1938 37,164,740,315.45 06/30/1937 36,424,613,732.29 06/30/1936 33,778,543,493.73 06/29/1935 28,700,892,624.53 06/30/1934 27,053,141,414.48 06/30/1933 22,538,672,560.15 06/30/1932 19,487,002,444.13 06/30/1931 16,801,281,491.71 06/30/1930 16,185,309,831.43 06/29/1929 16,931,088,484.10 06/30/1928 17,604,293,201.43 06/30/1927 18,511,906,931.85 06/30/1926 19,643,216,315.19 06/30/1925 20,516,193,887.90 06/30/1924 21,250,812,989.49 06/30/1923 22,349,707,365.36 06/30/1922 22,963,381,708.31 06/30/1921 23,977,450,552.54 07/01/1920 25,952,456,406.16 07/01/1919 27,390,970,113.12 07/01/1918 14,592,161,414.00 07/01/1917 5,717,770,279.52 07/01/1916 3,609,244,262.16 07/01/1915 3,058,136,873.16 07/01/1914 2,912,499,269.16 07/01/1913 2,916,204,913.66 07/01/1912 2,868,373,874.16 07/01/1911 2,765,600,606.69 07/01/1910 2,652,665,838.04
How about we tell the FED to go FUCK ITSELF and print debt-free Money? How about that? You guys know, at some point, the total interest on all public and private debt in circulation will soon be too large to service. Then the Country goes into receivership. Its a slow motion logic bomb. Better to disband the FED, arrest the Shareholders, and start afresh. Things only get worse from here. Good Luck!