GDP % is only relevant if we are politically able to raise taxes.
I think it’s very important to use GDP as a denominator, because otherwise you’ll be stuck crying wolf, saying “debt always keeps going up” even during the good times.
There are a lot of people who simply don’t believe that the government budget needs a trim right now, because people have been continuously saying there was a debt crisis even when the financial situation was relatively favorable.
Interest costs in the 80s spiked because high rates were applied to a much smaller debt base. Today we have the opposite problem: rates that are high compared to the 2010s are now rolling onto a massively larger stock of debt. We’ve only just started to refinance that debt at the new levels, so the full impact hasn’t even shown up yet. We are still seeing significant inflation (meaning rates still have upwards room to grow), beginning signs of an economic pullback, are beginning to see signs of a Fed unwilling to raise rates sufficiently due to the impact on the fiscal environ, etc.
so... austerity? Like the article suggests?
https://fred.stlouisfed.org/series/FYOIGDA188S
The situation is similar to what it was in the late 1980s, and it can mostly likely be managed with the same level of spending restraints we saw in response to that.
I found this little piece of information interesting. Apparently the display on the Vision Pro has such high resolution that they reduce the detail of the rendering. I don’t think I’ve ever seen that reported before. It means that an even higher quality display is still far in the future, since the silicon to push that many pixels isn’t quite ready.
https://www.ess-news.com/2025/09/10/new-alliance-aims-to-unl...
It’s completely expected for Europe’s installation of solar panels to begin tapering off as they get more return on investment by installing battery storage and decarbonizing other parts of the economy.