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Active Debate: National Debt

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National Debt

 
Mar 2
2016
Categories
Economics
4
2
2

Americans should not be worried about the $16+ trillion national debts and that it is exceeds our yearly GDP. There was actually another time in the past century that this happened to the United States. After WWII, our national debt was 120% what our GDP was due to massive fiscal spending to finance the war and to stimulate the economy in the aftermath of the Great Depression. Seemed to work pretty well then. The national debt acts as a stabilizer when we have a recession. When a recession hits, government spending increases, stimulating businesses and creating jobs. After the recession seems to be worked out, government spending will decrease and the debt will shrink. 



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