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Interesting quick Article about the National Debt and Debt Ceiling.
In short,
1. National Debt is actually on the decline in relation to economic growth.
2. China actually holds a small portion of debt, ~40% is held by private people with savings bonds and US institutions.
3. Save for 1 year back in the 1830s, the US has had a national debt.
4. The national debt debate has been with us since the beginning. Starting when the National Government absorbed each state's debt after the Revolutionary War.
All in all, we have been here before, we will be here again.
Four facts about the national debt you may not know - latimes.com
In short,
1. National Debt is actually on the decline in relation to economic growth.
2. China actually holds a small portion of debt, ~40% is held by private people with savings bonds and US institutions.
3. Save for 1 year back in the 1830s, the US has had a national debt.
4. The national debt debate has been with us since the beginning. Starting when the National Government absorbed each state's debt after the Revolutionary War.
All in all, we have been here before, we will be here again.
Four facts about the national debt you may not know - latimes.com