The National Debt :: essays research papers

The subject DebtFor the past centuries, the american people dug themselves into a big jumble 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 change magnitude every year from 1945 to 1995. Thebiggest increase of the debt was from the years 1985 to 1995 whwn it went upabout iii trillion dollars. Right after the Civil War the debt held at thirdbillion dollars. In 1900, this debt of three zillion dollars had decreased toone million dollars. In 1919, at the end of the World War 1, the debtskyrocketed to 25.5 billion. When the Wall roadway 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 know as Entitlements. Someof them were known as WPA. TVA. and CCC. Then social offbeat was bor n andsocial security system began. This is what put our country into debt. Then came war,the end of the depression, and the Eisenhower times.The debt kept on developing 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 whencemade from scrap pieces of metal and the cash became paper. Richard Nixon andGerald Ford passed the debt and added to it. The first family of bankruptcyoccured during the Jimmy Carter Presidency. Inflation 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 spree. A credit spree in my opinion is when we go out and buy everything, just now we put in on a charge (spending money we dont have.) The government cuttaxes and increased spending. The deficit exploded, but the american peoplewere ha ppy using a credit witticism and charging everything. Republicans began usingaccounts about supply side and trickle down economics. embodied 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 5 trillion dollars and increasing rapidly. Toworsen matters republican presidential nominee, Bob pogy says that he wants to