Krugman Doesn't Think American Debt Is That High
Paul Krugman, the famous economist and NY Times opinion writer, expressed his view of US government debt today. To quote:
"...After all, investors, who are willing to lend to America at incredibly low interest rates, are evidently not worried by our debt. And there’s good reason for their calmness: federal interest payments are only 1.3 percent of G.D.P., or 6 percent of total outlays. These numbers mean both that the burden of the debt is fairly small and that even complete repudiation of that debt would have only a minor impact on the government’s cash flow."
The complete column is here, although it's mostly about Donald Trump's ignorance.