National Debt

As of February 2001, the US national debt was over 5.8 trillion dollars and the national debt has continued to increase an average of $202 million per day since February 26, 1999! As the growing debt approaches fifty percent of GDP, it is one of the largest economic problems facing the United States today. The future of the US economy looks dim unless the debt's growth is curbed. During the 1980's the budget deficit soared due to increased spending and …

…to decrease to 44% of GDP (Federal Debt 103). It appears that, as long as efforts to balance the budget continue and the economy stays stable, the mistakes made during the 80's will be corrected without too many harms to the economy. The deficit will continue to decrease towards a stable balanced budget and the debt will eventually be outgrown by the economy. The future doesn't necessarily look bright, but it doesn't look so dim as before