Determin if the statements are true or false 1. Government spending, and hence, U.S. debt, typically increases around time of war. 2.  Budget deficits are thought to reduce crowding out. 3.  During the 1980s, U.S. debt, when expressed as a percentage of GDP, decreased during an era of limited government spending. 4.  Cutting taxes is a strategy a president can use to get re-elected, but it can also increase government debt. 4.  U.S. debt, when expressed as a percentage of GDP, has been relatively uniform over time 5.  U.S. debt has, at some points in history, exceeded GDP

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