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Beginning of Paper
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Cutting the National Debt
"It's time to clean up this mess." Famous last words heard from the
mouths of many different politicians when talking about the national debt and
the budget deficit. Our debt is currently $4.41 trillion and we have a budget
deficit of around $300 billion and g ....
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Middle of Paper
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.... the government worked to reduce the debt, and by 1949 it was
$252.7 Billion. At that point the Korean War started, sending the debt to $274
Billion by 1955. Since then, there has been no serious effort to pay down the
debt. The main point to be made was that on three separate occasions a major
debt reduction effort had been made, but in the past 55 years in spite of much
arm-waving there have been no similar results.
The U.S. debt is divided into two major kinds of loans, marketable and
nonmarketable. The former provides about 52 percent of the t ....
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SUBJECTS
