www.UnderstandingTheUSDebt.com Overview According to Webster's Collegiate Dictionary, debt is defined as "a state of owing" or "something owed: Obligation." Interestingly, it is also defined as "Sin, Trespass." All three definitions accurately describe the condition, history, and decisions leading to the persistent and rising debt of the U.S. federal government. For over 120 years, the United States raised money during times of war or financial panics. Each time, the leaders of the country worked hard to reduce their obligations, wary of passing debts to future generations. But starting in...