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Why does America have so much national debt?

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The national debt level of the United States has always been a subject of controversy. But, given that four consecutive years of $1 trillion budget deficits (2009-2012) has pushed the national debt to over 100% of gross domestic product (GDP), it is easy to understand why people (beyond politicians and economists) are starting to pay close attention to the issue these days. read more

At $16 trillion and rising, our national debt is draining free enterprise and weakening the ship of state.” — House Speaker John A. Boehner, Jan. 3, 2013 With a debt ceiling limit looming in the next two months, Congress and the Obama administration appear set to have another bruising battle over spending priorities. read more

On January 20, 2001, the day of George W. Bush 's inauguration into office, the national debt of the United States was 5.7 trillion dollars, and by the end of his run in office (January 19, 2009) it was at 10.6 trillion dollars. read more

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