And, 1946 was immediately after a world War where there were an estimated 60-75 million deaths.

From the Wall Street Journal,

The U.S. national debt reached 100% of gross domestic product for the fiscal year that ended Sept. 30, hitting the triple-digit mark for the first time since 1946.
...
The annual budget deficit of nearly $2 trillion was 6.2% of GDP, continuing an unusual streak of red ink outside of wars, recessions and emergencies.

And many Republicans continue to says the current President is a good business man that we need to run our country. I don't think so. He and his cabinet have no clue.