By — Paul Solman Paul Solman Leave your feedback Share Copy URL https://www.pbs.org/newshour/arts/the-us-debt-crisis-in-charts Email Facebook Twitter LinkedIn Pinterest Tumblr Share on Facebook Share on Twitter How the U.S. Racked Up $14 Trillion in Debt Arts Jul 29, 2011 5:00 PM EDT A fascinating set of graphic debt data, courtesy of the New York Times. Meanwhile, amidst all the scare talk of a bond rate crisis, has anyone noticed that the bond market is rallying mightily today? As of 4 pm, the 10-year yield was down to 2.79 percent, an interest rate last seen in December and among the lowest since JFK was President. Here’s a picture to put 2.79 percent in historical context. Remember that our lenders, the so-called ‘bond vigilantes,’ were supposed to have been holding up Uncle Sam at gunpoint, forcing him to hike interest rates to mend his profligate ways. Instead, they’re throwing money at the old man. supporting the analysis of many economists that drastic deficit reduction would spell a double dip, as spending dries up in an economy already sagging under an official unemployment rate of 9.2 percent and a U-7 closer to 20 percent, by our reckoning. This entry is cross-posted on the Making Sen$e page, where correspondent Paul Solman answers your economic and business questions _Follow Paul on Twitter._ We're not going anywhere. Stand up for truly independent, trusted news that you can count on! Donate now By — Paul Solman Paul Solman Paul Solman has been a correspondent for the PBS News Hour since 1985, mainly covering business and economics. @paulsolman
A fascinating set of graphic debt data, courtesy of the New York Times. Meanwhile, amidst all the scare talk of a bond rate crisis, has anyone noticed that the bond market is rallying mightily today? As of 4 pm, the 10-year yield was down to 2.79 percent, an interest rate last seen in December and among the lowest since JFK was President. Here’s a picture to put 2.79 percent in historical context. Remember that our lenders, the so-called ‘bond vigilantes,’ were supposed to have been holding up Uncle Sam at gunpoint, forcing him to hike interest rates to mend his profligate ways. Instead, they’re throwing money at the old man. supporting the analysis of many economists that drastic deficit reduction would spell a double dip, as spending dries up in an economy already sagging under an official unemployment rate of 9.2 percent and a U-7 closer to 20 percent, by our reckoning. This entry is cross-posted on the Making Sen$e page, where correspondent Paul Solman answers your economic and business questions _Follow Paul on Twitter._ We're not going anywhere. Stand up for truly independent, trusted news that you can count on! Donate now