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Home arrow Money arrow National Debt
National Debt
A History Lesson - Fiscal Discipline Reduces National Debt PDF Print Email this article
Written by Bright Future Staff   
Tuesday, May 06, 2008

Problem:  Ballooning national debt has a negative effect on the value of a nationís currency, increases interest rates, and causes a larger proportion of tax revenue to be used to pay interest payments.

Solution:  When a nation commits to reducing debt it begins to take actions to make it happen.

The following was reprinted from the website maintained by the US White House during President Clintonís presidency

President Clinton: The United States on Track to Pay Off the Debt by End of the Decade

December 28, 2000

Today, President Clinton will announce that The United States is on course to eliminate its public debt within the next decade. The Administration also announced that we are projected to pay down $237 billion in debt in 2001. Due in part to a strong economy and the Presidentís commitment to fiscal discipline, the federal fiscal condition has improved for an unprecedented nine consecutive years.

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Last Updated ( Friday, Jul 18, 2008 )
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