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For the past centuries, the American people dug themselves into a goliath hole which is the National Debt. In this paper I go forth discuss the history of the national debt, effects on the debt/deficit, slipway to reduce it and control the deficit. The national debt has increased every yr from 1945 to 1995. The biggest increase of the debt was from the years 1985 to 1995 when it went up about tercet trillion dollars. Right after the Civil War the debt held at three billion dollars. In 1900, this debt of three million dollars had decreased to one million dollars. In 1919, at the end of the universe War 1, the debt skyrocketed to 25.5 billion. When the Wall Street fell apart in 1929, the United States fell into something that was called the Great Depression. It started in 1930 and lasted until 1940. During this depression, chairwoman Franklin Roosevelt came in. He brought in projects known as Entitlements. Some of them were known as; WPA. TVA. and CCC. Then social welfare was born and social hostage 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 growing so bare-assed president Lyndon Johnson developed tender social welfare programs- Medicare, and Medicaid. The U.S. Government came up with the gold standard and stopped minting silver coins.

The coins were then made from scrap pieces of metallic element and the cash became paper. Richard Nixon and Gerald Ford passed the debt and added to it. The first sign of bankruptcy occurred during the moil Carter Presidency. Inflation skyrocketed and interest rate s fluttered near 20%. chairman Ronald Reaga! n made the economy act better, temporarily. To make the economy better, Reagan invented something called a credit spree. A credit spree in my impression is when we go out and buy everything, but we put in on a charge (spending money we dont have.) The government cut taxes and increased spending. The deficit exploded, but the American people were happy using a credit mobilise and...If you want to get a full essay, order it on our website: OrderCustomPaper.com

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