Re: [Pen-l] Vulnerable logic in Dean Baker's argument?

To: Progressive Economics <pen-l@xxxxxxxxxxxxxxxxxx>
Subject: Re: [Pen-l] Vulnerable logic in Dean Baker's argument?
From: Jim Devine <jdevine03@xxxxxxxxx>
Date: Mon, 18 May 2009 12:26:31 -0700
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Doug Henwood wrote:
> You're ignoring debt service, which was over 4% of GDP in the Reagan years,  and a rising debt/GDP ratio. It was 32% of GDP when Bush took office, and 44% when he left. It's likely to rise past 60% fairly soon.<

The good news is that debt service is down because of the Fed's side
of the stimulus program, no? The debt/GDP ratio was over 100% in 1945,
but low rates (because of a Treasury/Fed deal) kept it manageable.
--
Jim Devine / "Segui il tuo corso, e lascia dir le genti." (Go your own
way and let people talk.) -- Karl, paraphrasing Dante.
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References:
- [Pen-l] Vulnerable logic in Dean Baker's argument?
  - From: Bill Lear
- Re: [Pen-l] Vulnerable logic in Dean Baker's argument?
  - From: Doug Henwood
- Re: [Pen-l] Vulnerable logic in Dean Baker's argument?
  - From: raghu
- RE: [Pen-l] Vulnerable logic in Dean Baker's argument?
  - From: Max B. Sawicky
- Re: [Pen-l] Vulnerable logic in Dean Baker's argument?
  - From: Doug Henwood
- RE: [Pen-l] Vulnerable logic in Dean Baker's argument?
  - From: Max B. Sawicky
- Re: [Pen-l] Vulnerable logic in Dean Baker's argument?
  - From: Doug Henwood

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