Laurie Anderson on the National Debt
Plus Ca Change… professional New Yorker and androgynous person from the future, Laurie Anderson, talks about the problem of the national debt. Only this was nearly 20 years ago.
You would think that the problem of debt would be bigger now that: Asia is lending us money to pay the interest on the money it lent us to buy their mouse pads and umbrellas; capital markets have curled up into a nasty little tight spit-ball and the securities industry has shat the proverbial bed.
But as a percentage of GDP the numbers are far less scary according to the second graph here. So what’s the deal? Why aren’t the numbers worse, if the story is?