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2 answers

Has nothing to do with Japan or Germany or WWII, which I guess is your allusion. It is simply that the US government, like that of most countries, tends to spend more money than it takes in in taxation. It is able to do this because it has the most secure credit rating of any entity in the world, and can borrow money by selling Treasury Bonds with little difficulty.

Calling the debt "high" is relative. We have a higher debt than any other country, but we also have a FAR larger economy, a FAR larger tax base, and collect FAR more tax revenues than any other country in the world. Everything about the US economy is on a large scale.

2006-12-13 07:40:51 · answer #1 · answered by KevinStud99 6 · 0 1

No, we have a large national dept because government cannot restrain its impulse to spend too much.

2006-12-13 06:46:03 · answer #2 · answered by jeffrcal 7 · 1 1

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