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The National Debt of the United States, 1941 to 2008 (Paperback, 2nd Revised edition)
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The National Debt of the United States, 1941 to 2008 (Paperback, 2nd Revised edition)
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America's debt is in the trillions--and yet, like those who worry
about borrowing five dollars but not about their unaffordable
mortgage, Americans fail to pay attention to this serious
situation. The press hovers over annual budgets and the associated
deficits (and rare surpluses), but pays little attention to the
national debt and even less to the interest spent serving it.
Federal politicians seem as powerless to control the debt as they
are uninformed about its nature. After tracing fluctuations in the
finances of the country from its beginning until 1940, this book
examines the administrations of the next 12 presidents (FDR through
George W. Bush) and the annual budget deficits and interest
expenses that fed the national debt. The startup debt of each
administration is shown; then the change in debt through the end of
the administration is analyzed to show what areas of government
incurred overspending and how much was overspent. Also included are
brief biographies of each president, and discussions of foreign and
domestic situations, including judicial decisions and sociological
changes, that affected fiscal policies and fueled the urge to
overspend.
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