By Chrissy the Hyphenated
Click graphics to embiggen for easier reading.
I find the “as percent of GDP” a lot easier to understand than those ginormous billions and trillions, KWIM? “We made more than we spent” is something my tiny little mind can wrap itself around.
Besides, it doesn’t involve trying to make sense of the differences between 1900 dollars and 2000 dollars. As far as anybody’s spending plan goes, it doesn’t matter what the total numbers are. What matters is if the income minus the outgo is a positive or a negative number.
Fact One: We owe more than we make in a year.
Chrissy’s Site Bites: http://news.webshots.com/photo/2719842180056011884mXvNLl
Fact Two: We are NEVER going to get out of debt if we don’t STOP spending more than we make.
Chrissy’s Site Bites: http://news.webshots.com/photo/2597055400056011884NBjBfK
polination.blog 
What is it about not spending more money than you have that is so difficult for some people to understand? I can’t remember a time when I didn’t know that spending money you don’t have is not a good idea. On the other hand, I was raised by parents who were very frugal and very responsible, so I suppose it’s in my genes as well as in my upbringing. In our house, if you couldn’t pay cash for something, you got along without it. I was almost old enough to vote before I found out that not everyone was raised the way I was — it came as a huge shock to me.
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Percent of GDP is the best way to consider debt. I agree, Chrissy. Household debt as a percent of GDP is also part of the equation, I think.
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