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<p>[QUOTE=&quot;Hawkwing74, post: 1303752, member: 30896&quot;]You are ignoring the total US debt, which is way higher than in World War 2. I posted this earlier in the thread. Total US debt is now higher than any time during the Great Depression or World War 2 or any other time in US history. It is 362% of GDP. So which one do we default on? Federal debt? Social Security? State debt? Student Loans? Credit cards? City debt? Mortgages? </p><p><br /></p><p>Also, at the end of WW2 the US generated 50% of the world&#039;s GDP. That&#039;s because Europe, Russia, England, Japan were essentially wrecked. It was a giant boom time and not likely to be repeated. Even if it was repeated, the situation now of total debt/GDP is worse than 1945. Nor do we have presidents like Truman and Eisenhower, or Congresses that committed to fixing the problem. Every president we have elected recently has made things worse.</p><p><br /></p><p>Inflection: the interest on the US National Debt is 414 billion for 2011. Maybe interest on all debt per year in the US is 2.4 trillion?</p><p><a href="http://www.heritage.org/budgetchartbook/interest-spending" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.heritage.org/budgetchartbook/interest-spending" rel="nofollow">http://www.heritage.org/budgetchartbook/interest-spending</a>[/QUOTE]</p><p><br /></p>

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