Probably because "debt to GDP ratio" is a made-up measure and it's totally unclear that it actually indicates something. Only two things seem obvious to me:
(1) There is no hard limit to how much dollars the government can issue.
(2) Of course, the government cannot just issue more dollars indefinitely, before Bad Things(TM) start to happen.
However, this (rather trivial) observation tells us nothing about "What is the limit (or rather, range) of how much dollars the US government can issue, before bad things start to happen?" Without explaining how you can estimate such a limit, (US debt / GDP) is just some number: There's no reason to believe that there is some hard, fixed limit X that this number is not meant to exceed.
Comments
Probably because "debt to GDP ratio" is a made-up measure and it's totally unclear that it actually indicates something. Only two things seem obvious to me:
(1) There is no hard limit to how much dollars the government can issue.
(2) Of course, the government cannot just issue more dollars indefinitely, before Bad Things(TM) start to happen.
However, this (rather trivial) observation tells us nothing about "What is the limit (or rather, range) of how much dollars the US government can issue, before bad things start to happen?" Without explaining how you can estimate such a limit, (US debt / GDP) is just some number: There's no reason to believe that there is some hard, fixed limit X that this number is not meant to exceed.