The True National Debt

When Paul Krugman and other Keynesians say our debt isn't a problem they quote figures about our debt of $13.3 trillion versus our GDP of $14.6 trillion not being so bad. That's only 91% of GDP. They point to World War II when our national debt reached 120% of GDP. They say everything worked out after that.Well let's analyze that comparison for just a second. In 1945 Europe Russia and Asia lay in...