Best Answer

Currently the the United States has a very high level of debt. One reason for this was the expensive cost of the wars it has fought in Iraq and Afghanistan.

User Avatar

Wiki User

9y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: How did America owe so much debt?
Write your answer...
Still have questions?
magnify glass
Related questions

Is it legal for a debt collector to refuse to respond to me and if so can they report my debt and lower my credit score if they won't disclose my debt information.?

No, a debt collector must legally tell you what kind of debt you owe and how much debt you owe. You can consult an attorney for more details.

Do you receive a refund if you owe one of the creditors on your bankruptcy?

No. The debt is simply discharged so you don't owe it.

Where in life do WE use negative numbers?

When people are in debt! You can owe people so much money that you actually have a negative amount of money.

How much debt is America in because of the Iraq war?

well its not just the Iraq war that has us in so much debt, this is only like 3 % of the debt that this war creates. & were up to 53 trillion dollars in debt

Why does adding a negative to a negative all ways give you a negative?

Because if you have a debt, and you add more debt, then you can't suddenly have less debt. If you owe me $5, then you borrow another $5, then you owe me $10. There is no way that borrowing more money from me will make it so that you owe me less money. It's the exact same way with any mathematical problem.

How much does each taxpayer owe against the national debt?

I think only 45% of the population actually pays any tax- if that is so, the debt per tax payer is about $103,000. The debt clock ( see the related link) estimates tha debt per person at $46,142.69 this evening of July 14.2011.

Does high credit means you owe money?

I'm assuming you mean a high credit score, which is determined by 35% debt payment history, 30% debt levels, 15% length of debt, 10% new debt, and 10% type of debt. So, a high credit score can mean that you do owe money and have a good history of paying it on time, but it can still be high even if you recently eliminated all your debt.

What debt does Angela owe turtle?

About the thing. READ the book and find out!! Stop being so lazy and relying on the computer!

What is the purpose of Care One Credit?

Care One Credit is a debt consolidation company. If you owe multiple places they consolidate your debt into one lump sum, so you only have one payment. They also negotiate settlements for you on your debt.

Why do we owe china so much money?

Because the US spends far more each year than it takes in. That is called the deficit. Every year that we have a deficit, we need to borrow money to make up the difference. That is called the debt. Much of that loaned money comes from China, or the debt was assigned to China by whoever the US borrowed from. Since we're living on borrowed money, we have to owe someone. China is one of those someones.

What is the fastest way to get out of debt?

This one is easy pay the money you owe to your creditors and inform the credit report company you have done so

Does America owe China more than Japan?

America doesn't owe China or Japan anything. If anything, they owe China because they were allies in WWII and were one of the original four countries to form the UN.