Paying Off the National Debt

Abstract

<p>Americans have a tradition of wanting to get out of debt. This tradition doubtless has its roots in an almost universal desire for greater security. Some of our large corporations, it is true, do not attempt to pay off their bonded debts. They merely refinance from time to time. Nevertheless, we have a tendency to carry over into the public debt field much the same attitude toward repayment that we hold toward private debts.</p>