#USNationalDebt
The growing debt of the United States is the result of a simple mathematical operation: each year there is a mismatch between spending and income.
When the federal government spends more than it receives, it has to borrow to cover that annual deficit. And the deficit of each year adds up to our growing national debt.
Historically, the largest deficits were due to increased spending on national emergencies, such as major wars or the Great Depression.
The growing debt of the United States is the result of a simple mathematical operation: each year there is a mismatch between spending and income.
When the federal government spends more than it receives, it has to borrow to cover that annual deficit. And the deficit of each year adds up to our growing national debt.
Historically, the largest deficits were due to increased spending on national emergencies, such as major wars or the Great Depression.