Detailed text transcripts for TV channel - MSNBC - 20120910:11:31:00
Between world war ii and the '80s, we went down from 122 to the 30s. we didn't pay off a dollar of debt. >> explain to people -- so -- because we always talk debt to gdp. >> that is percentage of the national income, of the total economy. >> so of all the united states economy makes per year, what is our debt? it got down to 30%. >> it got down to about 35%, % 38%. >> what is it today? >> today it's about 105%. >> i've always heard if it gets to 90%, that's a tipping point. and that's when things start -- >> that's when economic growth starts to slow. rogoff and rinehart showed that. and i agr...