The Jury Is In: National Debt Linked To Economic Growth

"We examined 26 high-debt episodes between 1800 and 2011, looking both at growth rates and at levels of real interest rates. We found that in 23 of the 26 high-debt cases, growth was low as compared with the relevant country's performance in periods when debt was less. Table 1 from that paper sets out this result. You'll notice it makes clear that the U.K.'s high-debt episode of 1830-1868 is one of the three exceptions." Carmen M. Reinhardt in Bloomberg