The two situations are frequently compared.
In the 1990s, the debt ratio was quite close to what we see now. Of course, some years it was higher in relation to the economy. The difference is that interest rates were much higher then. In addition, for every dollar of income, an amount between $0.35 and $0.37 was paid to cover the interest charges on the debt. Now it is less than $0.10 per dollar, varying between $0.07 and $0.09.
So the situations are different, even though the debt as a share of the economy may seem comparable. At the time, interest rates were much higher, which meant that the debt weighed more heavily on public finances.