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Is there a constitutional limit to the size of the national debt?
Wiki User
∙ 15y ago
There is no constitutional limit on the size of the national debt. Congress establishes a limit above which the debt cannot go. However, it periodically raises this limit as the need for more spending arises.
Wiki User
∙ 15y ago
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Why should the size of the national debt be a concern to all Americans?
Because we pay for it
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he was concerned about the size of the government-apex
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size of the national debt
Why should the size of the national debt be a concern to all Americans?
Because we pay for it
After the french and Indian war the british government was alarmed by the size of the national debt?
true
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What was the effect of the national debt?
The size of the US's national debt is a vital piece of the economical health of not only the USA but of all nations participating in world trade and economics. I'll focus on the USA's national debt. Generally speaking a small national debt helps the USA's economy in a few ways. Based on the USA's position in the world as a major player in world economics and yes, it's military strength, a small national debt means that taxes in the USA, whether income taxes or other Federal taxes, need not be raised to pay the principal and interest of the national debt. Another positive feature of a small national debt is that the USA can issue bonds on the free market to raise money in a smooth manner as the small debt is one indicator that the USA's finances are in good order. This also directly affects the amount of interest that Government bonds need to pay the buyers of Government bonds. The USA's ability to help the economies of other nations is enhanced when the USA can borrow funds to help their economies. Thus, the amount of foreign aid the USA can lend or grant to other nations for good reasons not frivolous ones, is increased.
