The Debt Non-Explosion

From Paul Krugman

A conversation I had earlier today suggested that it might be worth pointing out a fact that isn’t as widely known as it should be: namely, that there has not been an explosion in debt over the past few years. There has been a big rise in federal debt, but this has gone along with a collapse in private borrowing, so that overall debt growth has been lower than it was in the pre-crisis years:

Source

Bear this in mind when someone starts ranting about hyperinflation just around the corner thanks to explosive debt growth.