https://www.stlouisfed.org/on-the-economy/2023/apr/what-does-history-reveal-red… Created Thu, 06/04/2023 - 19:30 Updated Thu, 06/04/2023 - 19:30 A look at the U.S. national debt since World War II reveals that economic growth and fiscal austerity (i.e., spending cuts and raising taxes) are two of the ways to reduce the debt burden.