Debt is not a new problem for our government

Since it was founded in 1776, the United States has had public debt. During the Revolutionary War the U.S. incurred $75 million in debt. After the War of 1812 there was a sharp increase in debt that included 18 surpluses, but in the following 20 years 99.97 percent of the debt was paid off. That is the difference between then and today.