R > G for 40 years

 

The blue line is the net interest rate, interest expense divided by total debt.

The red line is real growth.  The Swamp has been a loser in this game from  1965 until 2010. Then we got a period of r = g since.  

This has been mostly a 40 year battle to get back to normal after the Nixon default. Reagan was no help, little Bush fouled up.  Someone has been preaching BS for fifty years.