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Politicians get elected by making voters happy. Voters always want more public spending and less taxes. The only way to have both of those things at once is to borrow money. So politicians borrow money, and get reelected.
People don't like to pay tax, but love to enjoy services provided by the government. So, politicians tend to endorse lower tax while maintaining the same or increase public services. Obviously, you can't have both at the same time without bring in more cash somehow.
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∙ 8y ago
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∙ 10y agodick
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How large is the national debt of the UK?
over 1 trillion pounds
What was the U S National debt in 1999?
The estimated national debt in the United States in 1997 was 5.14 trillion dollars. As of October 2014, the national debt is 17.8 trillion dollars.
What year did the national debt start?
keylee parks and kolton astle hates spending money
What is one of the major problems caused by large national debt?
The problem with debt is you need to repay them. A large national debt would be detrimental to the future generations as they will bear higher tax burden to repay these debts. There are lesser benefits as well since portions of Government revenue will have to be allocated to return debts.
What state is the US economy in?
The United States of America has accumulated a large amount of debt over the past few years. The debt right now is over 17 trillion dollars, which means that the US' economy is in a very poor condition.
Who controls the level of national debt?
The level of national debt is controlled by Congress in the United States.
What is the national debt clock?
The national debt clock is a real time running total display which constantly updates to show the current national debt of the United States. You can find it at the website US Debt Clock.
Is the National Debt Helpline toll-free?
It is true that the National Debt Helpline is a toll-free number that you are able to call. This is true for both the United States and in the United Kingdom.
What is the United States national debt as of 2011?
about 55 billion.
What country in the world has the most national debt in relationship to their gross national product?
Most likely the United States with our multi-trillion dollar national debt.
What problems were caused by the national debt the United States had at the end of the American revolution?
The biggest problem that was caused by the national debt of the United States of America at the end of the American Revolution was the need to create a tax system. The national debt, at that time, was mainly financed by the country of France.
What is United States current national debt?
The national debt is the amount of money the US owes over the amount of money it takes in. Debt is funded by selling treasury bonds. The U.S. currently has a national debt around 17.5 trillion dollars.
Is the national debt line a safe place to go to?
No, the national debt line not a safe place to go to. In the United States, we are in trillions of dollars in debt. We need to get things back on track.
How much is the national debt?
Around £350 million. Since this answer is in pounds, I'll assume it is the British debt. The United States has a public debt in excess of 13,000,000,000,000 (TRILLION) Dollars, and pays 53,000,000,000 (BILLION) per MONTH interest on that debt!
What started the US growing a large national debt?
The Revolutionary War.
How large is the national debt of the UK?
over 1 trillion pounds
Who holds most of the US National Debt?
The United States and Japan. they hold most of the national debt. right now, but I believe that China is getting up there.
