scroll to top
Stuck on your essay?
Get ideas from this essay and see how your work stacks up
Word Count: 517
In the early days of our government debt was considered to be a last resort The only justification for debt of any significant amount was a war By 1849 the US Government had accumulated a surplus of 70 Million Dollars Immediately after the Civil War the debt stood at 3 Billion Dollars By 1900 this had been reduced to under 1 Billion By 1919 the end of World War I the debt had climbed to 255 Billion In each of the following years the debt was reduced and by 1930 stood at 181 Billion With the collapse of Wall Street in 1929 the country fell into the Great Depression which lasted until 1940 At that time the debt had climbed to 51 Billion By the end of World War II the debt was 269 Billion Again the government worked to reduce the debt and by 1949 it was 2527 Billion At that point the Korean War started sending the debt to 274 Billion by 1955 Since then there has been no serious effort to pay down the debt The main point to be made was that on three separate occasions a major debt reduction effort had been made but in the past 55 years in spite of much out cry of the American people there has been no significant results from congress or the president The american government now says by 2002 the debt will be 356057trillwhile our politicians talk of balancing the budget by the year 2002 not one of them has proposed a plan to start paying down the debt The knew planin my opinion will not pay off the national debt or the intrest we owe on it Consider this If there had been no deficit during the 1990s the debt would still have increased by 1 TrillionIf there had been no deficit our gross interest payments would be slightly lower Slightly but not enough to change the growth of debt
@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