Andrew Lombardo

Andrew Lombardo - Andrew Lombardo Professor Mini ECO 114 The National Debt of the United States During most of the history of the United States

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Andrew Lombardo Professor Mini April 10, 2008 ECO 114 The National Debt of the United States During most of the history of the United States government, there has been a  level of debt that the government has owed. In fact, there has only been one significant  surplus in the history of the United States. Occurring during the Clinton administration,  this is the only period of time in which government spending did not exceed government  revenue. Lately, the amount of government spending has been vastly surpassing tax  revenue due to a number of reasons. These reasons include tax relief, increased  financial budgets for government programs, and war financed by the American  taxpayers, all of which greatly increase the financial burden of the United States. As of  April, 2008, the national debt is at approximately nine and a half trillion dollars. The  financial burden manifests itself in many ways which hurt the American public as well as  the government.
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The United States is in debt to many different parties. These groups include  foreign countries, corporations, and even the American public. To raise money, the  American government sells investments in the American government via treasury notes,  treasury bills, and treasury bonds. The most common form of government borrowing is 
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This note was uploaded on 04/20/2008 for the course ECO 214 taught by Professor Mini during the Spring '08 term at Bryant.

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Andrew Lombardo - Andrew Lombardo Professor Mini ECO 114 The National Debt of the United States During most of the history of the United States

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