National Debt

As of February 2001, the US national debt was over 5.8 trillion dollars and the national debt has continued to increase an average of $202 million per day since February 26, 1999! As the growing debt approaches fifty percent of GDP, it is one of the largest economic problems facing the United States today. The future of the US economy looks dim unless the debt's growth is curbed. During the 1980's the budget deficit soared due to increased spending and decreased taxes under the Reagan administration. Since the beginning of the 1990's the deficit has decreased slightly but it is still ove…