Walker's World: Back to bad old ways

``The Federal Reserve notes that total debt in the United States in the first quarter of this year was 360 percent of gross domestic product, exactly where it was in the second quarter of 2008, before the collapse of Lehman Brothers sent the financial system into a swoon from which it has still not recovered. This is alarming, because such high and probably unsustainable levels of debt were one of the main reasons why the Great Recession hit.''