Monthly Archives: August 2011

US Government Debt

The US government debt has been a major concern recently, with the raising of the government debt limit in order for the US government to meet its financial obligations. How did the government end up in such a state, whereby it would be unable to pay its bills without having to borrow more money?

The chart below shows how the US public debt has soared over the years, since after World War II.

The chart below shows the American Presidents under whose office the public debt as % of GDP actually rose steeply.


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Filed under Macroeconomics