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The declining debt curve
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Opinion page editor Rick Holmes and other writers blog about national politics and issues. Holmes & Co. is a Blog for Independent Minds, a place for a free-flowing discussion of policy, news and opinion. This blog is the online cousin of the Opinion ...
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Opinion page editor Rick Holmes and other writers blog about national politics and issues. Holmes & Co. is a Blog for Independent Minds, a place for a free-flowing discussion of policy, news and opinion. This blog is the online cousin of the Opinion section of the MetroWest Daily News in Framingham, Mass. As such, our focus starts there and spreads to include Massachusetts, the nation and the world. Since successful blogs create communities of readers and writers, we hope the \x34& Co.\x34 will also come to include you.
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By Rick Holmes
Dec. 19, 2012 9:15 a.m.







I have a great fondness for charts, as I’ve demonstrated before. This one is, I think, a good antidote for the “we’re all going to drown in debt and die” hysteria we’ve been hearing out of Washington for the last year or so.  As the Economic Policy Institute explains:



Over the last three years, the long-term budget outlook (covering 75 years) if current law is followed has improved dramatically. In 2009, the Congressional Budget Office projected that debt held by the public would rise from around 60 percent of GDP to roughly 300 percent of GDP in 75 years. In contrast, in 2012 the CBO has projected that debt will consistently fall—and even be fully paid off by 2070.




It’s one of 10 charts the EPI has selected as best of 2012. You can find the others here.

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