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National Debt

National Debt

The US National Debt is the measure of obligation the federal United States government owes. As of December 31, 2010, the total debt outstanding was $14.03 trillion dollars. The debt has increased over $500 billion ever year since 2003, with excess of $1 trillion since 2008.

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  1. How has obama affected the national debt? what is he spending on?

    Hmm... we sent that Answer to you already! Txt GETNEW to get ...

  2. What was the national debt after the Mexican American War?

    The Mexican-American War was an armed conflict between the Un...

  3. Why did FDR become concerned about the national debt?

    "It wasn't so much FDR that ended the depression, it was WWII...

  4. How is national debt measured?

    National debt is measured using the gross debt figure that in...

  5. What did Robert Morris propose to help pay the national debt?

    Robert Morris urged the sound-money faction to press for a Fe...

  1. How is national debt measured?

    National debt is measured using the gross debt figure that in...

  2. Why did FDR become concerned about the national debt?

    "It wasn't so much FDR that ended the depression, it was WWII...

  3. What did Robert Morris propose to help pay the national debt?

    Robert Morris urged the sound-money faction to press for a Fe...

  4. How has obama affected the national debt? what is he spending on?

    Hmm... we sent that Answer to you already! Txt GETNEW to get ...

  5. What is one of the major problems caused by a large national debt?

    One major problem of having a large national debt is that it ...

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  1. What is the nations national debt?

    The U.S. National Debt is currently approximately 13. 8 trill...

  2. What countries have a national debt?

    Brazil, Russia, Mexico, China, Indonesia, Argentina, South Ko...

  3. What is our national debt?

    The US National Debt as of this point in time is $ 1 4 , 0 1 ...

  4. How much has the national debt increased since Obama has taken office?

    His actual number is not available but he plans on a deficit ...

  5. How much was the US national debt before and after George W Bush was in office?

    09/30/2000 the national debt was $5,674,178,209,886.86. On 09...

  1. What is our national debt?

    The US National Debt as of this point in time is $ 1 4 , 0 1 ...

  2. What is the nations national debt?

    The U.S. National Debt is currently approximately 13. 8 trill...

  3. What is the nation's national debt?

    The U.S. National Debt is currently approximately 13. 8 trill...

  4. What is the national debt of Japan?

    The national debt of Japan is 192% of the GDP. ChaCha!

  5. What did Robert Morris propose to help pay the national debt?

    Robert Morris urged the sound-money faction to press for a Fe...

About National Debt

History
The United States has had public debt since the Revolutionary War. The national debt grew until it reached zero on January 8, 1835. However, it quickly went back up again, skyrocketing during the Civil War and Franklin Roosevelt.

Today
The debt was pegged at $3 trillion in 2000, however, due to economic downturns, the wars in Iraq and Afghanistan and financial bailouts; the public debt has soared to $14 trillion dollars for 2010. 25% of the debt is held by foreign governments, with China holding 20% of it.

The national debt is a point of debate in politics today because of the damage high debt has on the dollar and the government. It will be more difficult for the government to borrow money if the nation's debt is to high. Furthermore, the dollar is devalued as it the world's reserve currency.

Related Images

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BERLIN, GERMANY - JANUARY 11: German Chancellor Angela Merkel and Italian Prime Minister Mario Monti listen to their countries' respective national anthems upon Monti's arrival at the Chancellery on January 11, 2011 in Berlin, Germany. Monti is in Berlin to seek more support for Italy in recognition of austerity measures his government is pushing through in roder to bring the Italy's debt situation under control.

EXETER, NH - JANUARY 08: Supporters of republican presidential candidate former Massachusetts Gov. Mitt Romney stand next to a national debt clock during a rally at Exeter High School on January 8, 2012 in Exeter, New Hampshire. With days to go before the New Hampshire primary, Mitt Romney is making a final campaign swing through the state.

People's National Party leader Portia Simpson Miller (L) delivers her address after taking the oath of office as Jamaica's new prime minister on January 5, 2012 in Kingston. Miller, who became the first female prime minister in 2006 but narrowly lost a reelection bid the next year, inherits a deeply troubled economy, whose ballooning debt of USD 18.6 billion accounts for a third of the country's GDP.

People participate in a demonstration in front of the National Assembly on December 13, 2011 in Paris, during a national day of protest against the government's austerity package. The protest, called by the main workers trade-unions (CGT, CFDT, FSU, Solidaires and Unsa), takes place after the government's second austerity plan and after the euro area leaders agreed during the EU summit in Brussels last week in a statement on a 'golden rule' to tighten budgetary discipline to prevent a repeat of the debt crisis. Placard reads : 'Sarkozy naked. I take your wages and give you my pension.'

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National Debt