The U.S. Economy and the Federal Debt

I’ve been doing some research on the Federal debt based upon the current arguments of conservatives about U.S. government debt reduction. I’ve also been interested in the portion of our current debt resulting from the Iraq/Afghanistan Wars and the Bush Era tax cuts.

First…an article with valuable graphic on government debt as a function of several factors.

The Article

My question is “Are we in financial trouble?”.

Since 1900 we’ve only seen three periods with increases in federal debt as a percentage of GDP comparable to the period beginning in 2009 – World War 1, The Great Depression, and World War 2.

The graphs in the article show total debt as a function of several factors – the Iraq/Afghanistan Wars and the Bush Era Tax Cuts are two of those factors. It also shows projected debt out to 2019.

Next, a link to data on Federal budget, with a number of valuable graphs.

The Link

I’m interested in your opinion.