United States national debt

The United States currently has a massive debt of over 16 trillion dollars, resulting from the recession and two wars. However, by practicing Keynesian economics, government debt can be useful at times.

Republicans
Republicans sometimes examine the rise in the national debt over Obama's presidency, and point to it as reckless spending. However, Republicans are getting in the way of paying off our debt. Republicans advocate that we reduce taxes, especially on the wealthiest individuals. Because of this, the debt will be hard to pay off. Republicans also want to have a massive military, and to fight in more wars, thus causing more spending. The idea that Republicans stand for fiscal responsibility has been shown to be nothing more than a myth.

Total debt
The United States has a total debt of almost 57 trillion, with government debt making up only a fraction of the debt. The total debt is a result of credit card debt, student loans, and mortgages. Because of this, higher education, the housing market, and the credit industry need regulation.