scroll to top
Stuck on your essay?
Get ideas from this essay and see how your work stacks up
Word Count: 1,422
Its time to clean up this mess Famous last words heardfrom the mouths ofmany different politicians when talking about the national debt and the budgetdeficit Our debt is currently 441 trillion and we have a budget deficit of around300 billionand growing Our government now estimates that by the year 2002 the debtwill be6507 Trillion While our politicians talk of balancing the budget notone of them hasproposed a feasible plan to start paying down the debt In the early days of our government debt was consideredto be a last resort In1790 when Alexander Hamilton as secretary of the Treasury made his firstreport on thenational debt of the United States he estimated it at close to 70 millionAfteralternately rising and falling the debt stood at only 4 million or 21cents per capita in1840 That was the lowest point ever reached by the public debt of the USAfter 1840 itrose to a peak in the last year of the Civil War of almost 268 billionand a per capitafigure of 7501 The only justification for debt of any significant amountwas a war By1900 this had been reduced to under 1 Billion By 1919 the end of WorldWar I thedebt had climbed to 255 Billion In each of the following years the debtwas reducedand by 1930 stood at 181 Billion With the collapse of Wall Street in 1929the country debt history 1850 to 1950fell into the Great Depression which lasted until 1940 At that time thedebt had climbedto 51 Billion By the end of World War II the debt was 269 Billion Again the government worked to reduce the debt and by1949 it was 2527Billion At that point the Korean War started sending the debt to 274 Billionby 1955Since then there has been no serious effort to pay down the debt The mainpoint to bemade was that on three separate occasions a major debt reduction effort hadbeen madebut in the past 55 years in spite of much arm-waving
@Kibin is a lifesaver for my essay right now!!
- Sandra Slivka, student @ UC Berkeley
Wow, this is the best essay help I've ever received!
- Camvu Pham, student @ U of M
If I'd known about @Kibin in college, I would have gotten much more sleep
- Jen Soust, alumni @ UCLA