Is this just a comparison? Or does this have a larger meaning?
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It means that, if every corporation wanted to use their income to pay their entire debt, they would need to work for *almost* a year exclusively to do so. Simple as that. If being close to 100% “worries” you, it’s just “a year” using a different unit of measurement.
You could analyse it any way you wanted, if it’s good or bad for the economy, I don’t know. But keep in mind that “debt” is an umbrella term, and doesn’t mean anything without considering the specific agreements made (how long you have to pay it back, how much interest they charge you, etc.). Nobody expects you to pay your mortgage within a year.
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