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Even the national debt can be a good thing … Even the national debt can be a good thing. Only once in our history—in the early 1800s—was there no national debt—and for the most part, that debt worked out well. But its increase since the mid-70s and particularly in the last three years is alarming to the utmost. It was a major reason for our recession and our weak recovery and we are now well down the road to government default similar to that of Greece—the world’s first democracy.hat of Greece—the world’s first democracy. +
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