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Cutting The National Debt Beginning of Paper "It's time to clean up this mess." Famous last words heard from the mouths of many different politicians when talking about the national debt and the budget deficit. Our debt is currently $4.41 trillion and we have a budget deficit of around $300 billion and growing. Our government .... Middle of Paper .... of $75.01. The only justification for debt of any significant amount was a war. By 1900 this had been reduced to under $1 Billion. By 1919, the end of World War I, the debt had climbed to $25.5 Billion. In each of the following years the debt was reduced, and by 1930 stood at $18.1 Billion. With the collapse of Wall Street in 1929, the country (debt history: 1850 to 1950) fell into the Great Depression, which lasted until 1940. At that time the debt had climbed to $51 Billion. By the end of World War II the debt was $269 Billion. Agai .... 1423 words | 6 pages Subscription Length Price Join 30 days membership (recurring) $19.95 90 days membership (recurring) $39.95 180 days membership (non-recurring) $69.95