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The current gross federal debt as a percentage of GDP (83.4% at the end of 2009) is currently the highest it has been since the late 1940s.
The debt briefly reached over 100% of GDP in the aftermath of World War II.
Gross debt and public debt are different.
Public debt is the gross debt minus intra-governmental obligations (such as the money that the government owes to the two Social Security Trust Funds, the Old-Age, Survivors, and Disability Insurance program, and the Social Security Disability Insurance program.
http://en.wikipedia.org/wiki/National_debt_by_U.S._presidential_terms#cite_note-wh2009-7