The Department issued its report in July 2012, stating that "attempting to use U.S. Treasury securities as a coercive tool would have limited effect and likely would do more harm to China than to the United States.  Reinhart and Rogoff maintain that after correcting for errors, a negative relationship between high debt and growth remains. In recent decades, aging demographics and rising healthcare costs have led to concern about the long-term sustainability of the federal government's fiscal policies. For most of US history, the Debt-to-GDP ratio has been under 50%. "Like any budget that you have in your household, we have too little income and too many expenses," said Ted Jenkin, certified financial planner and CEO and founder of oXYGen Financial in Atlanta. Ha ha, I'm pretty sure all of North America is in debt - I don't know how much we are down here in Canada, but I know that parliament is all effed right now. United States Congress, Government Accountability Office (November 5, 2004). Over the long-term, the CBO projects that interest expense and mandatory spending categories (e.g., Medicare, Medicaid and Social Security) will continue to grow relative to GDP, while discretionary categories (e.g., Defense and other Cabinet Departments) continue to fall relative to GDP.  The Center on Budget and Policy Priorities (CBPP) cited research by several economists supporting the use of the lower debt held by the public figure as a more accurate measure of the debt burden, disagreeing with these Commission members. Public debt as a percentage of GDP fell rapidly in the post-World War II period, and reached a low in 1974 under Richard Nixon.  CFRB further estimated that the national debt would reach 106% of U.S. GDP in September 2020, a record since the aftermath of World War II.. "...the total figure will likely be equal to the $5 trillion national debt. ", (a5) Audited figure was "about $8,493 billion. The $1.6 trillion debt increase includes three main elements: 1) $1.7 trillion less in revenues due to the tax cuts; 2) $1.0 trillion more in spending; and 3) Partially offsetting incremental revenue of $1.1 trillion due to higher economic growth than previously forecast. (Note: This includes pre-1917 debt), https://www.newsweek.com/national-debt-could-surpass-25-trillion-amid-spending-combat-coronavirus-1493758, "Federal Debt Held by the Public as Percent of Gross Domestic Product (FYGFGDQ188S)", "MONTHLY STATEMENT OF THE PUBLIC DEBT OF THE UNITED STATES DECEMBER 31, 2018", "MAJOR FOREIGN HOLDERS OF TREASURY SECURITIES (in billions of dollars)", "China Reduced U.S. Treasury Holdings for Third Straight Month", "The World Factbook — Central Intelligence Agency", "The Budget and Economic Outlook: 2018 to 2028 – Congressional Budget Office", "An update to the budget outlook 2020 to 2030", "Congressional Budget Office – Historical Data on the Federal Debt", "Treasury Expects to Issue Over $1 Trillion in Debt in 2018", "The US will issue over $1.3 trillion in new debt in 2018, the highest amount since the depths of the recession", "The 2012 Annual Report of the Board of Trustees of the Federal Old-Age and Survivors Insurance and Federal Disability Insurance Trust Funds", "Social Security Trust Fund 2010 Report Summary", "Federal debt basics – What is the difference between the two types of federal debt? 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