I find this particular chart to be MORE INFORMATIVE than all the verbal blather about 'national debt' and who did what to whom.
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(From accompanying wiki article)
en.wikipedia.org/wiki/History_of_the_United_States_public_debt
In the United States, national debt is money borrowed by the federal government of the United States. Debt burden is usually measured as a ratio of public debt to gross domestic product.
http://upload.wikimedia.org/wikipedia/commons/2/23/Federal_Debt_1901-2010.png


Finally, brethren, whatsoever things are true, whatsoever things are honest, whatsoever things are just, whatsoever things are pure, whatsoever things are lovely, whatsoever things are of good ...