National Debt The Biggest Issue Of The Global Politics

National debt is the biggest issue in the global politics. As we scrutinize the US national debt and its history; we can answer the most common questions from fellow citizens in the US on the National debt: what causes the national debt? Who do we owe money to? And how can the Government pay off the debt entirely? I strongly believe the national debt should be a major concern to all American citizens and tax payers, because they contribute to government spending a great deal. In 1790, Alexander Hamilton stated in the first report on the public credit that: The United States debt, foreign and domestic, was the price of liberty. The faith of America has been repeatedly pledged for it... Among ourselves, the most enlightened friends of good government are those whose expectations of prompt payment are the highest. To justify and preserve their confidence; to promote the increasing respectability of the American name; to answer the calls of justice; to restore landed property to its due value; to furnish new resources, both to agriculture and commerce; to cement more closely the Union of the States; to add to their security against foreign attack; to establish public order on the basis of an upright and liberal policy; these are the great and invaluable ends to be secured by a proper and adequate provision, at the present period, for the support of public credit. (Treasury Direct, 2015). According to Mr. Phillip Mancusi on our interview, the United States had debt since theShow MoreRelatedThe Asian Economy1443 Words   |  6 Pagesand most consistent. Since 2001, the country has had an average growth of 5.4 percent, much faster than the global average, despite the impact of the global financial crisis. 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