Corey Brown: National Debt

At what rate is the debt increasing?

The US National Debt is constantly increasing month by month, year by year. However,some days the debt will decrease insignificantly, and some days it will rise. This graph represents the National Debt.

What was the main cause of the national debt spiraling out of control?

In Lisa Harris's essay entitled Causes of our National Debt, she states "Part of the constant growing debt is from people spending all of this money, even when they don’t have it. Individuals are taking out loans more often because it is so easy. They then have trouble paying off those loans. The banks that give out these loans don’t worry about it, until now, because the government has to bail them out. Companies are spending more and not making as much, therefore they are also going into debt, and when companies and individuals go into debt they have to ask the banks for help, but if the banks are having trouble, then they are not able to help out the businesses."

When did we have the most debt before now?

Before now, the US was in most debt during the Bush administration. However, the debt has increased with every presidency.

Corey Brown