2010-08-02ft.com

"According to the CBO’s forecast, federal debt held by the public will stand at 62 per cent of GDP at the end of fiscal year 2010. That’s the highest level since World War II — when the figure stood at about 80 per cent of GDP — and surpasses the level reached in the Great Depression. It’s certainly a jump from before the financial crisis. In 2007, just before the recession began, the proportion was 36 per cent."



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