Chapter 1: Owners

Oct 25, 2005 · The 1980s witnessed a resurgence of borrowing, and the size of the debt in relation to the economy quickly grew. During the late 1990s, cuts in spending and stronger economic growth again reduced the overall debt, but recent deficits drove it back up again. By August, 2005, the debt reached $7.9 trillion, equivalent to two thirds of GDP. ................
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