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Originally posted by astroblade
perhaps even get past that "america sucks" mentality oh so many brain-washed canadians have.
The National Budget, Debt & Deficit - MarkTAW.com
The total public debt is largely a legacy of war, economic recession, and inflation. It represents the accumulated deficits in the Government's budgets over the years. The United States first got into debt in 1790 when it assumed the Revolutionary war debts of the Continental Congress. At the end of 1790, the gross public debt was approximately $75 million. For a brief period in the mid-1830's the public debt was virtually zero. At the start of World War I in 1916, the public debt was $1 billion. It then rose to a peak of $26 billion in 1919 to finance the war. The debt declined for the next decade. During the Great Depression of the 1930's, however, the debt increased from $16 billion to $42 billion. During the Second World War the public debt rose sharply to a peak of $279 billion in 1946. From its postwar low in 1949, the outstanding public debt grew gradually for nearly the next two decades. Then, beginning at the time of the Vietnam War in the mid-1960's, the rate of the debt's increase accelerated sharply.
Originally posted by edsinger
No Worries m8, we still have a 10 trillion $$$ economy, we make lots of things. Did you know that the US is the worlds LARGEST EXPORTER?
Posted by Edsinger
Did you know that the US is the worlds LARGEST EXPORTER?