Debt

For most of my life I have heard various experts, in and out of government, say we cannot keep spending more than we are taking in. In other words expenses cannot exceed revues for ever. Year after year certain conservatives running for congress preach the line that the country will go broke unless we cut spending. The current US debt to GDP ratio is 130% and they say this is unsustainable. Japan recorded a Government Debt to GDP of 263.90 percent of the country's Gross Domestic Product in 2022. Government Debt to GDP in Japan averaged 146.28 percent of GDP from 1980 until 2022, reaching an all time high of 263.90 percent of GDP in 2022 and a record low of 50.60 percent of GDP in 1980. Japan is the third largest economy in the world just after the US and China. China’s debt is more than 250 percent of GDP, higher than the United States. It remains lower than Japan, the world’s most indebted leading economy, but some experts say the concern is that China’s debt has surged at the sort of pace that usually leads to a financial bust and economic slump. Is the debt the problem or the speed at which the debt accumulates.