There is no optimal level of federal debt-to-GDP ratio. It's something that's hard to determine, and it depends on the situation and circumstances. There are some estimates out there. Some people are talking about 80% or 60%, but it's not determined what the optimal rate is. That's not something we are focusing on in our reports. What we look at normally is whether the GDP ratio is stable or whether it's declining, which sort of determines whether the fiscal structure is sustainable or not.
On April 19th, 2016. See this statement in context.