Economic data -- on jobs, housing and investment -- don't support the claim by politicians that the federal debt is hurting economic growth, Bloomberg reported.
Economists across the political spectrum dispute the best-known study of the subject, by Carmen Reinhart and Kenneth Rogoff, which found that nations with debt loads greater than 90 percent of their economies grow more slowly.
Three years after government spending surged in response to the recession and drove the United States beyond the 90 percent red line -- U.S. debt is 106 percent of the $15.8 trillion economy -- key indicators reflect gathering strength.
Businesses have increased spending by 27 percent since the end of 2009. The annual rate of new home construction has jumped about 60 percent. Employers have created almost 6 million jobs.
And with borrowing costs near record lows, the cost of paying off the debt is lower now than in the year Ronald Reagan left the White House, as a percentage of the economy. Read more