National Debt

Who was president the last time the budget deficit was zero?

Clinton

What causes the National Debt to rise?

Revenue falls - Happens when the economy goes into recession and we cut taxes. Spending increases: This can happen when we go to war.

How much of the US debt is owned by China and Japan?

10.2%

What was the US National Debt in 1816 1866 1919 1946

127M 2.77B 27.4B 269.4B

When did the US National Debt first pass 1 trill 4 trill 8 trill 10 trill What is it today?

1982 1992 2006 2008 23 trillion

How much of the US debt was owned by foreign individuals and firms?

29.3%

How much of the US debt is owned by US government entities?

37.5%

How much was the US national debt in 1791?

75 Million

Which is true? Except for a brief time during the Andrew Jackson administration, the US has always had a nation debt The Debt accumulated during WWII has never been paid.

Both are true

The National Debt began in England in 1694. Why did it begin?

England wanted to fight a war.

When was the national debt of the US zero? Who was president when this happened and how long did it last?

For a brief time under Andrew Jackson

What happened to the national debt during WWII? When did we pay this debt? What does this story tell us about our debt issue today?

Increased from $40-260 Billion. We haven't It always goes up and won't be paid back.

What has happened to the budget deficit since 1945? What has happened to the budget deficit in the 21st century?

It has been smaller than WWII in 1945. It has gone up and down but primarily been above )%

What happened to the US National Debt from 1963 to 1982

It tripled from 305.9 Billion to 1982 1.14 Trillion

The bank of england loaned the English government money in 1694. Was this money ever repaid? was it supposed to be repaid?

No and No

Politicians often compare governments to households. What are the problems with this analogy? In what sense can this analogy help?

People eventually stop earning money and die. Governments do not.

What is the difference between debt and deficit?

a budget deficit is the difference between what the federal government spends (called outlays) and what it takes in (called revenue or receipts). The national debt, also known as the public debt, is the result of the federal government borrowing money to cover years and years of budget deficits.