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The National Debt - Online Term Paper

The National Debt

For the past centuries, the american people dug themselves into a big
hole which is . In this paper I will discuss the history of
, effects on the debt/deficit, wais to reduce it and control
the deficit. has increased every year from 1945 to 1995. The
biggest increase of the debt was from the years 1985 to 1995 whwn it went up
about three trillion dollars. Right after the Civil War the debt held at three
billion dollars. In 1900, this debt of three million dollars had decreased to
one million dollars. In 1919, at the end of the World War 1, the debt
skyrocketed to 25.5 billion. When the Wall Street fell apart in 1929, the
United States fell into something that was called the Great ...

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The U.S. Government came up
with the gold standard and stopped minting silver coins. The coins were then
made from scrap pieces of metal and the cash became paper. Richard Nixon and
Gerald Ford passed the debt and added to it. The first sign of bankruptcy
occured during the Jimmy Carter Presidency. Inflation skyrocketed and interest
rates fluttered near 20%. President Ronald Reagan made the economy act better,
temporarily. To make the economy better, Reagan invented something called a
credit spree. A credit spree in my opinion is when we go out and buy everything,
but we put in on a charge (spending money we dont have.) The government cut
taxes and increased spending. The deficit exploded, but the american people
were happy using a credit card and charging everything. Republicans began using
accounts about “supply side” and “trickle down” economics. “Corporate welfare
prospered again, financed by more debt. “Between the years 1980 and 1990, the
national debt quadrupled. ...

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The National Debt. (2007, March 20). Retrieved December 23, 2024, from http://www.essayworld.com/essays/The-National-Debt/62046

"The National Debt." Essayworld.com. Essayworld.com, 20 Mar. 2007. Web. 23 Dec. 2024. <http://www.essayworld.com/essays/The-National-Debt/62046>

"The National Debt." Essayworld.com. March 20, 2007. Accessed December 23, 2024. http://www.essayworld.com/essays/The-National-Debt/62046.

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PAPER DETAILS

Added: 3/20/2007 04:07:00 AM
Category: Economics
Type: Premium Paper
Words: 484
Pages: 2

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