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An Attempt to Alter the History of the National Debt by Obama, While Reexamining the Increasing Public Debt in the Country.

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A glance into the past of the United States, quickly exposes the history of the national debt of the country. 

National debt has been recorded and documented since inception and showed itself as escalating increasingly throughout the past. 

Undoubtedly the national debt of the United States is nothing recent, having arisen since inception, slowly and steadily gaining pace and volume. 

As observed by previous records, the national debt of the U.S has multiplied exceedingly. 

The history of the national debt is not an alien term to economies around the world, as they find themselves plummeting rapidly into red ink. 

The U.S has seen an increase in its public debt since after the Civil War and that has continued to grow since.

With its tremendous increase, America witnessed a slight decrease during the Presidency of Andrew Jackson, and now is drowning in a debt of more than $11 trillion as on March 16, 2009. 

The country has, at present seen the largest deficit since World War II but, at 8.3% of the GDP, the debt still falls under 75% of GDP. 

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National Debt – Increasing Extremely

While the Civil War brought with it an enormous hike in the national debt, there came about an increase from $65 million in 1860 to $1 billion in a span of three years.

After the war, it reached a hefty figure of $2.7 billion. Now the increase stands at $500 billion each year since Fiscal year 2003.

Statistics show that in the year 1800, the national debt was $82,976,294.35.

Now, nearly twenty decades later, the national debt of the United States has exceeded a massive amount of $10,024,724,896,912.49 as recorded towards the close of September 2008. 

The history of the national debt shows us that while the government expenditure is rising with each presidential term, national debt also mounts up. 

The public has always been unconscious of the federal reserves of the government from presidency to presidency.

Federal spending is on most occasions made secret. 

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Republican VS. Democrats

Throughout the years, America has seen a constant comparison between the Democrats and the Republicans.

It has long interested citizens regarding which party spends the most while in office. 

Data, in comparing a Republican and a Democrat, shows that the Republican spends 64% faster than a Democrat.

It has been observed that the expenditure increased under the presidency of a Democrat is at an average rate of 1.29 per year. 

When it comes to its main contender, the Republican spends up to 2.12%. Republican presidents indeed spend more money than do Democrats.

The taxes are converted to such basic necessities and requirements like starting wars and conflict. 

With 56% of the national income being spent on the war and military expenses, there is no question left as to why the country is running into deficit. It can be said to be inevitable. 

Through past records, Bush was seen to have spent the most money while in office. 

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Obama Out to Check Expenditure

Obama, watchful of the scaling national debt, makes an attempt to cut down expenses.

He warns U.S. mayors of extravagant money spending and urges them to spend it wisely. 

Aware of the history of the national debt in the country, not forgetting the biggest spending bill in the modern times, Obama cautions the mayors to exclude politics and personal agendas from the national expenditure. 

What with the American Recovery and Reinvestment Act of 2009, one can only wonder what the national debt would come to from here on.

There is a simple solution to debt relief. Join a DTSS Debt Discharge Membership Program today.

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