Whose in More Debt
Whose in more debt USA or India
USA
Massive borrowing during this 1940s event caused the U.S. debt to soar.
WW2
what are the 3 things the USA spends the most money on
Military, Healthcare, and Social security
When government spending exceeds revenue in a given year, this occurs.
Taxes
This term refers to the total amount of money the U.S. government owes to creditors
National Debt
Whose in more debt UK or USA
USA
The U.S. first accumulated national debt to fund this war.
Revolutionary War
what year was the USA in the most debt
this year
This branch of government decides how much money to spend and borrow.
Congress
When government spending exceeds revenue in a given year, this occurs.
Budget Deficit
Whose in more debt Itay or France
France
This Founding Father was the first to manage America’s debt as Secretary of the Treasury.
Alexander Hamilton
What does the US spend the most money on
Social security
The government’s yearly plan for spending and earning money is called this.
Federal Budget
When the government collects more money than it spends, it runs this.
A Surplus
Whose in more debt South Africa or Portugal
South Africa
The U.S. completely paid off its national debt under this president in 1835.
Andrew Jackson
How much does the US spend each year? 6.7 trillion or 7.4 trillion
6.7 trillion
When the government borrows too much, it might cause higher rates on these.
Loans
This type of bond is sold by the U.S. Treasury to finance government debt.
Treasury Bond
Whose in more debt North Macedonia or Madagascar
Madagascar
The U.S. national debt first surpassed $1 trillion during this president’s term in 1981.
Ronald Regan
How much does the US make each year 5.8 Trillion or 4.9 Trillion
$4.9 Trillion
The U.S. owes money to both the public and to this part of the government itself.
Government Trusts
The U.S. debt ceiling refers to this legal limit.
The maximum money the US is allowed to borrow