Generate a graph of the last 20 years of the national debt and of the national...

Generate a graph of the last 20 years of the national debt and of the national debt as a percentage of GDP on a separate graph.
Explain what has happened to both over time.

Solutions

Expert Solution

The national debt and debt to gdp percentage has risen at a very rapid rate during 2008 to 2013 to the 2008 financial crisis in which government had to bail out the banks and then expansionary fiscal policy was in place so that the economy could recover. The tax cuts announced in 2011 also reduced government revenue.

The debt and debt to gdp have also risen during two other major events -
after the 9/11 attacks and during the present government due to corporate tax cuts and increased defense spending.

Rahul Sunny answered 1 year ago

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