National debt refers to the total money a country owes its creditors, which can include domestic and foreign institutions. While national debt is often viewed negatively, it is typical for a healthy economy and can stimulate growth. Government spending that exceeds revenues leads to budget deficits, contributing to national debt, particularly during economic downturns. Increased national debt results in higher borrowing costs, limiting funding for essential services. Understanding the historical context of national debt across different presidencies is crucial, as it highlights the complexities behind fiscal policies and their impact on society.
Higher national debt translates to escalating borrowing costs, diverting funding from essential public sectors such as education and infrastructure toward interest payments.
National debt is often perceived negatively; however, it is a normal part of economic functioning that can aid in stimulating growth if managed wisely.
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