David Brooks Is Upset that the Interest Burden of the Debt Is Near a Post-War Low

When NYT columnists make absurd assertions they deserve ridicule. In his NYT column today, David Brooks make the absurd assertion that, "the mounting debt is ruinous." Right, and we know this because the interest rate on 10-year Treasury bonds is less than 1.8 percent? (That compares to rates of more than 5.0 percent when we had budget surpluses in the late 1990s.) Do we know that the mounting debt is "ruinous" because the ratio of interest on the debt to GDP is near a post-war low?

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