Bob Murphy: How bad is the national debt?

Bob Murphy: How bad is the national debt?

How bad is the national debt? Just asking questions. Our national debt—measured as federal debt held by the public—is over $27 trillion. That's approaching 100 percent of annual gross domestic product, which is higher than it's been since the end of World War II. So, are we screwed?  Or are those of us who worry about numbers like this totally misunderstanding the nature of government debt? There's a school of thought called Modern Monetary Theo…