http://zfacts.com/p/461.html " The debt's a problem, but we fixed a worse one before! â¢ Truman, Ike, Kennedy, Johnson, Nixon, and Carter wiped out most of the World War II debt. Take a look. â¢ Two parts of the federal government are running big surpluses. â¢ We hit a 53-year high for debt as a percent of the economy (GDP). The eye-popping $10 trillion gross national debt is owed by the "General Fund." That's the part funded by our income taxes. Half of that goes for the military and to pay interest on the debt. Fortunately, two huge parts of the budget, Social Security and Medicare, are running huge surpluses."