The National Debt :: essays research papers

The National DebtFor the past centuries, the american people dug themselves into a bighole which is the National Debt. In this paper I will discuss the history ofthe national debt, effects on the debt/deficit, wais to reduce it and controlthe deficit. the national debt has increase every year from 1945 to 1995. Thebiggest increase of the debt was from the years 1985 to 1995 whwn it went upabout three trillion dollars. Right after the Civil War the debt held at threebillion dollars. In 1900, this debt of three million dollars had decreased to angiotensin-converting enzyme million dollars. In 1919, at the end of the World War 1, the debtskyrocketed to 25.5 billion. When the Wall Street fell apart in 1929, theUnited States fell into something that was called the Great Depression. Itstarted in 1930 and lasted until 1940. During this depression, PresidentFranklin Roosevelt came in. He brought in projects known as Entitlements. Someof them were known as WPA. TVA. and CCC. Then social welf are was born andsocial security began. This is what drop our country into debt. Then came war,the end of the depression, and the Eisenhower times.The debt kept on growing so new president Lyndon Johnson developed newsocial welfare programs- Medicare, and Medicaid. The U.S. Government came upwith the gold standard and stopped minting silver coins. The coins were thenmade from scrap pieces of metal and the cash became paper. Richard Nixon andGerald Ford passed the debt and added to it. The first sign of bankruptcyoccured during the Jimmy Carter Presidency. pomposity skyrocketed and interestrates fluttered near 20%. President Ronald Reagan made the economy act better,temporarily. To make the economy better, Reagan invented something called acredit offer. 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 cuttaxes and increased spending. The deficit exploded, but the american peoplewere happy using a credit card and charging everything. Republicans began usingaccounts about supply side and trickle obliterate economics. Corporate welfareprospered again, financed by more debt. Between the years 1980 and 1990, thenational debt quadrupled. In 1980, it was at approximately eight hundredbillion dollars. Now its quintet trillion dollars and increasing rapidly. Toworsen matters republican presidential nominee, Bob Dole says that he wants to