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The Federal Debt: Debt Basics to Key Policy Considerations

By GAO
eBook
$9.99
By GAO
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The federal government has carried debt throughout virtually all of U.S. history.
As part of Alexander Hamilton's plan for strengthening the financial credit of the post-Constitution nation, the federal government assumed the debt incurred during the Revolutionary War and the period under the Articles of Confederation.

Since that time, federal debt as a share of the nation's income has varied.
Historically, the nation has run up deficits during wars and recessions, but then debt has subseque...

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