As we peer into society's future, we -- you and I, and our government -- must avoid the impulse to live only for today, plundering, for our own ease and convenience, the precious resources of tomorrow. We cannot mortgage the material assets of our grandchildren without risking the loss also of their political and spiritual heritage. We want democracy to survive for all generations to come, not to become the insolvent phantom of tomorrow."Debt to GDP ratio in 1961, when he gave that speech: 52%
Debt to GDP ratio today: 107%
1 comment:
I have often thought about this as in my personal life:
Debt to yearly income: 4 to 1.
Of course, that includes the house note, car note and assorted monthly.
All is well, as long as I'm employed. Same thing with the government.
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