“I, however, place economy among the first and most important of republican virtues,
and public debt as the greatest of the dangers to be feared. ”
Thomas Jefferson
For over 120 years, the United States raised money during times of war or financial panics. Each time, the leaders of the country worked hard to reduce their obligations, wary of passing debts to future generations. But starting in the early 1900’s, views about debt and the role of the federal government began to change. Now,
100 years later, America is over $14 trillion in debt. Americans need to know why we are in such a horrible financial condition and what changes are necessary to become debt free.
Understanding the United States Debt is available for
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in both print and digital form.
Did you know...
See all of the book Fast Facts in the Table of Contents page.
- The last and only time we’ve been debt free was in the 1800’s. Understand the debt from a historical perspective in Chapter 1.
- In 1985, 16% of our debt was held by foreign interests. Today, that percentage is over 50%. Find out who owns the debt in Chapter 2.
- Social Security has been called a Ponzi scheme. Understand how the Social Security “trust funds” work in Chapter 2.
- Some people think military conflicts are the cause of our current debt problems. However, national defense outlays are only 20% of the total spending over the last 35 years. Learn where the money is really spent in Chapter 3.
- One President increased general government spending by over 1300%, five times more than any other. Look at spending by Presidential terms in Chapter 3.
- The actual debt of the U.S. government is not $16 trillion. It is much, much higher. Learn why the actual debt is closer to $60 trillion in Chapter 4.
- Argentina was among the wealthiest countries in the world during the early 1900’s? Have you ever wondered why Japan is no longer a rising superpower? Would you be surprised to hear that massive debt is the culprit? Learn why these countries fell, and how the U.S. is following right in their footsteps, in Chapter 6.
See all of the book Fast Facts in the Table of Contents page.
