U.S. Budget-economics

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Title: U.S. Budget-economics

Essay Details:

Subject: Miscellaneous

Author: Walter M

Date: March 3, 2014

Level: University

Grade: A

Length: 6 / 1608

Essay text:

When the U.S. government came into existence and for about a 150 years thereafter the government managed to keep a balanced budget. The only times a budget deficit existed during these first 150 years were in times of war or other events. The Government, for instance, generated deficits during the War of 1812, the recession of 1837, the Civil War, the depression of the 1890s, and World War I. However, as soon as the war ended the deficit would be eliminated and the economy which was much larger than the amounted debt would quickly absorb it. The last time the budget ran a surplus was in 1969 during Nixon's presidency...

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