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Cutting The National Debt
Beginning of Essay
"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 grow .... Middle of Essay
.... only justification for debt of any significant amount was a war. By 1900
this had been reduced to under $1 Billion. By 1919, the end of World War I, the
debt had climbed to $25.5 Billion. In each of the following years the debt was
reduced, and by 1930 stood at $18.1 Billion. With the collapse of Wall Street in
1929, the country
(debt history: 1850 to 1950) fell into the Great Depression, which lasted
until 1940. At that time the debt had climbed to $51 Billion. By the end of
World War II the debt was $269 Billion.
Again the government worked to reduce the debt, and by 1949 it was
$252.7 Billion. At that point the Korean War started, sending ....
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Words: 1423 - Pages: 6
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