Camden

Mr. D

English

2/29/2024

National Debt

Would you trust someone with your finances if they had 1 million dollars in debt? America spends a lot of money. That is why they tax us so much. The US spends money on things they dont need and on wars they're not involved in.

National debt is money one country owes to another country. The US has 34 trillion dollars in debt. They have the most debt in the world. The US has 20 trillion more debt than China. China has the second most national debt with 14 trillion debt. Japan has the third most debt with 13 trillion.The US just keeps getting more. The US has 2.7 trillion dollars in social security debt.

America spends money on things they don't need. The US spends too much money on oil and gas. America has gas and they just buy more. So we give money to other countries and they can get more powerful. America spends about 106.6 billion dollars on oil each year. The US spent 9 billion dollars on the Alaskan pipeline. It took 3 years to build. It is more than 1200 miles long. More than 70,000 people helped build it. The oil goes from Prudhoe Bay to Valdez. Where it then gets loaded onto tankers for shipment to the market.Then we just grow more in debt.

The US has spent more than 8 trillion dollars on war since 9/11. The US has been in 107 wars. Five of them are still going on. The US has won 79 wars and lost 11 wars. The US gave more than 75 billion dollars to Ukraine. They spent 171 billion dollars on Afghanistan. Afghanistan is the longest war America has been in it was almost 20 years. They spent 648 billion on the Iraq war. The Iraq war lasted 8 years. The US spent 686 billion on the Vietnam War. The Vietnam War lasted almost 20 years. It is the 2nd longest war in American history. The Vietnam War was 5 months shorter than the Afghanistan War. They spent 320 billion on the The US spent 4.1 trillion dollars on WW1 and WW2. WW1 and 2 were very important. Korean war and many more wars.The Korean war is also known as “The forgotten war”

Morabito, Charlotte, et al. "Why the U.S. Economy Needs Debt, According to Some Economists." CNBC, CNBC LLC, 10 Sept. 2023, www.cnbc.com/video/2023/09/10/why-the-us-economy-needs-debt-according-to-some-economists.html#:~:text=The%20U.S.%20national%20debt%20hit,to%20make%20up%20the%20difference.. Accessed 14 Feb. 2023.

Fay, Bill. Timeline of U.S. Federal Debt Since Independence Day 1776, Debt.org LLC , 12 Oct. 2021, debt.org/faqs/united-states-federal-debt-timeline/. Accessed 14 Feb. 2024.

Smith, Cara. What Is the National Debt, NerdWallet, 19 May 2023, nerdwallet.com/article/finance/what-is-the-national-debt.

WHAT IS THE NATIONAL DEBT TODAY, Peter G. Foundation, www.pgpf.org/national-debt-clock.