Depends what you mean by large. The US has been in debt since day 1 due to Revolutionary War Debts owed to probably France. The only time it's been zero was during Andrew Jackson's presidency about 1835. First major surge in debt was the war of Northern Aggression (aka Civil War). Pretty much every war created huge surges in the Public debt, especially World War I, World War II, Cold War, War on Terrorism.
debt and bankruptcy
deficit financing adds to public debt because it is regularly spending more than it takes in each year-and then borrows to make up the difference.
pay civil war debt
Pay off the national debt
t is because the government spent a lot of money
The public debt is the debt that the United States government owes to other countries.
The Public Debt is debt that is owed by the Government of the United States. The External Debt is that is owed to foreign countries. The current Public Debt is $16,738,541,240,281.19 that over 16 Trillion dollars. The external debt is approximately $15,940,978 that is a lot less than the public debt.
trends of public debt in india
The biggest disadvantage of public debt is the fear of it leading to excessive inflation. The advantage of public debt is the leveraging of public assets to provide services.
Ottoman Public Debt Administration was created in 1881.
The deficit is always smaller than the public debt.
Great Book of the Public Debt was created in 1792.
debt and bankruptcy
Wars cost money and the infant US had a huge debit from fighting the British.
Because there is political interference in the established means of production bringing about a situation where goods are no longer being produced leading to unemployment, shortages, inflation, poverty.
Formed in 1940 The Bureau of the Public Debt is partially setup to track and report public debt. The bureau of the Public Debt borrows money that is needed to run the federal government and to account for the resulting debt, basically paying it back.The Bureau of the Public Debt is part of the U.S. Department of the Treasury.The link is added below to get to the government website which interestingly enough has the figures for the U.S. debt for which now the numbers are in double digit trillions.