Measured over a five-year period (2007-2012), the US has thus not done any better than the eurozone, although it has relied on a much larger dose of fiscal expansion. In the US (and the United Kingdom), the general government deficit today is still around 8% of GDP, compared to a little more than 3% of GDP in the eurozone, and the US debt/GDP ratio has increased by more than 41 percentage points, compared to “only” 25 points in the eurozone.