Originally Posted by Rollo
The US National Debt was created in 1790 when the US Treasury took over the responsibility of $75million from the states, which was effectively the costs of the revolutionary war.
The Civil War (or the "War Between the States" is you believed Rocky & Bullwinkle) added in 1865 terms another $3 billion to it, which as William Gibbs McAdoo (McAdoo-doo-doo push pineapple, shake a tree, McAdoo-doo-doo push pineapple, grind coffee) reported in the 1914 budgetary papers still wasn't effectively paid off until World War One.
Heaven only knows if you've paid off World War Two, Korea, Vietnam, The Cold War, Gulf War I, Gulf War II or Afghanistan, but I'd more than likely say probably not.
I don't know what type of economics you subscrbe to, but can you really think that having more than 100% of your GDP in debt is a good thing? And that is BEFORE the healthcare stuff.
The simple fact of the matter is that the American People have never been able to pay for the effects of constantly being at war and either that means that Americans have never been taxed enough or that every single Government since 1789 has never had any intention of paying the debt off.