The Federal Debt: Debt Basics to Key Policy Considerations
By GAO
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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...
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...























