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→Debt to GDP ratio
''See also:'' [[National debt of the United States]] and [[Federal Debt Limit]]
''See also:'' [[National debt of the United States]] and [[Federal Debt Limit]]
During [[World War II]], federal debt peaked at 106% of gross domestic product in 1946.<ref>[https://www.washingtonpost.com/opinions/2020/05/27/this-is-not-your-grandfathers-debt-problem/ This is not your grandfather’s debt problem] By Eugene Steuerle, Washington Post, 2020</ref> Back then there was a plenitude of Treasury bond buyers owing to the 24% of GDP national saving rate generated by an [[economy]] fully mobilized for [[war]], and subject to harsh rationing a few consumer goods to buy.
During [[World War II]], federal debt peaked at 106% of gross domestic product in 1946.<ref>[https://www.washingtonpost.com/opinions/2020/05/27/this-is-not-your-grandfathers-debt-problem/ This is not your grandfather’s debt problem] By Eugene Steuerle, Washington Post, 2020</ref> Back then there was a plenitude of [[Treasury bond]] buyers owing to the 24% of GDP national saving rate generated by an [[economy]] fully mobilized for [[war]], and subject to harsh rationing a few consumer goods to buy.
US government interest payments per day doubled from $1bn per day before the [[covid pandemic]] to almost $2bn per day in 2023.
US government interest payments per day doubled from $1bn per day before the [[covid pandemic]] to almost $2bn per day in 2023.