The U.S. National Debt "Spending financed not by current tax receipts, but by borrowing or drawing upon past tax reserves." Is it a good idea? Why does the U.S. run a deficit? Since 1980 the deficit has grown enormously. Some say it is a bad thing, and predict impending doom, others say it is a safe and stable necessity to maintain a healthy economy. For nearly 150 years the U.S. government managed to keep …
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showed last 75 words of 1415 total
…spent to immobilize a large and fairly capable part of the work force. It encourages elderly people not to work by spending deficit money on them. Reducing productivity and increasing the debt at the same time. In its current state, the U.S. should attempt to reduce its deficit. However, eliminating it is not necessary and could do more damage than good. Table 1 Increase of National Debt -------------------------------------------- 05/05/2000 $5,662, 392,522,569.88 09/30/1999 $5,656,270,901,615.43 09/30/1998 $5,526,193,008,897.62 09/30/1997 $5,413,146,011,397.34 09/30/1996 $5,224,810,939,135.73 09/29/1995 $4,973,982,900,709.39 09/30/1994 $4,692,749,910,013.32 09/30/1993 $4,411,488,883,139.38 09/30/1992 $4,064,620,655,521.66 09/30/1991 $3,665,303,351,697.03 09/28/1990 $3,233,313,451,777.25 09/29/1989 $2,857,430,960,187.32 09/30/1988 $2,602,337,712,041.16 09/30/1987 $2,350,276,890,953.00 12/31/1985 $1,945,941,616,459.88 12/31/1984 $1,662,966,000,000.00 * 12/31/1983 $1,410,702,000,000.00 * 12/31/1982 $1,197,073,000,000.00 * 12/31/1981 $1,028,729,000,000.00 * * Rounded to Millions Bibliography Dont have one