Getting your player ready...
WASHINGTON — The proposed $700 billion bailout of the financial system is staggering, but debt relative to the whole economy has been bigger. The plan would raise the federal debt to more than $11 trillion. Moody’s analyst Steven Hess said he expects the debt will climb to the mid-40s as a percentage of the economy. The ratio reached almost 50 percent in 1993, up from about 25 percent in 1981.
