The Effects Of National Debt

The national debt is increasing day by day, and the federal government is struggling to tackle it. As of now, the national debt has comprised to 18 trillion dollars. Americans and economists are concerned about the national debt, and the effect it will have in the country and even the world. As President George Washington once stated, “To contract new debt is not the way to pay old ones”, which is what seems to be happening recently. Debt needs to be addressed as a national issue along with the factors that contribute to its negative and positive traits . What is national debt? The national debt is the total money the US federal government owes to foreign countries, different areas within the country such as states, and any other groups or