Bloomberg reported that despite concerns over how the U.S. national debt is hurting the economy, economic data doesn’t support this claim.

Bloomberg said three years after a government spending surge in response to the recession drove the U.S. past that red line – the nation’s $16.7 trillion total debt is now 106% of the $15.8 trillion economy – key indicators reflect gathering strength.

Bloomberg noted that businesses have increased spending by 27% since the end of 2009. The annual rate of new home construction jumped about 60% and employers have created almost 6 million jobs.

And with borrowing costs near record lows, the cost of paying off the debt is lower now than in the year Ronald Reagan left the White House, as a percentage of the economy, Bloomberg said.

To read the Bloomberg story click here.