Image Source: PexelsA reminder, so when next you hear about fiscal restraint.
Figure 1: Debt held by the public as share of GDP (blue), and as share of potential GDP (red). NBER peak-to-trough recession dates shaded gray. Source: Treasury via FRED, CBO, NBER and author’s calculations.More By This Author:Everyday Price Inflation At 0.3% Y/Y? Recession After The Election? UMich Sentiment Catching Up With The (Good Economic) News?
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