The US National Debt Load Is Second-Worst In The World

The US National Debt Load Is Second-Worst In The World by Ryan McMaken, Mises Institute

The US Office of Management and Budget last month released its latest numbers of US federal debt as a percentage of gross domestic product. According to the OMB, the federal debt is now at 100 percent, which makes it similar to debt levels reached during the aftermath of the second world war when the US was still dealing with its massive war debt.

Indeed, since 2008, federal debt levels have been at 50-year highs and at levels one would expect from a country in crisis or at war:

Defenders of deficit...