The staggering United States debt has a direct impact on every American, yet few are aware of where the debt came from and how it affects their lives
The United States has a debt problem we owe more than $18 trillion while our gross domestic product, the value of all goods and services produced in America, is only $17.5 trillion. To pay down the debt, some recommend austerity, cutting federal expenditures. Others suggest increasing taxes, especially on the wealthiest Americans. In Understanding the National Debt: What Every American Needs to Know, economic historian Carl...