The U.K went from a debt to gdp ratio of 225% to a low of 33%.[0] The U.S. went from a debt to gdp ratio of 120% down to 37%.[1] This isn't the first time countries have had to run large deficits.

[0]http://www.economicshelp.org/blog/11697/debt/post-war-boom/ [1]http://dailybail.com/home/chart-us-debt-to-gdp-1940-2015.htm...