The vastly improved fiscal situation may last only a few years, but it's a big plus for u.s. markets and the u.s. dollar — and another nail in the coffin for the gold bugs and doom-and-gloomers who can add one more item to the long list of things they got really, really wrong.”

Why the US's Debt is No Longer Such a Big Deal  –Howard Gold writing at MarketWatch

Before we find out about Howard's thoughts on the debt situation (I am only going by the headline right now) let's divide the GDP by the Federal Debt.  This is a view of a deluded nation going right down a sink hole in service to greed and denial.

Now let's see what Mr. Gold (not the discredited and now strangely silent ‘gold bug' Mr. Gold) has to say in regard to “the US debt is no longer such a big deal”.

Shhh! Don't tell anyone, but over the past couple of years, the U.S.'s debt burden, the big issue that swept Tea Party-led Republicans into control of the House of Representatives in 2010, has quietly improved.

Obligatory political baiting opens the article.  Politics and financial markets never mix.  Major political parties argue over certain details as favors their constituencies, but they are the two heads on the same freakish animal.

According to the Congressional Budget Office, the federal budget deficit was $506 billion for fiscal 2014, which ended in October. That's about a third the size of the deficit in 2009, in the depths of the Great Recession.

According to the CBO, eh?  Okay then, facts are facts.  The deficit is improving.

And although federal debt held by the public should reach 74% of GDP this year — the highest percentage since 1950 — the CBO projects it, too, will remain steady for the rest of the decade.

Ha ha ha… Howard, the CBO projects debt-to-GDP will remain steady for the next decade?  Well, why worry then?  The Congressional Budget Office has made a projection… based on what exactly?