Problem
1. Explain how the U.S. government managed to accumulate a debt of $12 trillion. To whom does it owe this debt? Is the debt a burden on future generations?
2. Comment on the following: "Deficit spending paves the road to ruin. If we keep it up, the whole nation will go bankrupt. Even if things do not go this far, what right have we to burden our children and grandchildren with these debts while we live high on the hog?"
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.