Hamilton's Blessing: The Extraordinary Life and Times of Our National DebtPenguin Books, 1998 - 220 psl. Measured at the staggering amount of $5.1 trillion (and growing every day) the national debt is unfathomable to most Americans. What we may not realize is that the United States was born out of debt. After the Revolution, the brilliant Alexander Hamilton was less interested in paying down the Revolutionary war debt than in using it to create a vibrant national economy. If it is not excessive, he declared, a national debt will be to us a national blessing.In a fascinating narrative brimming with colorful characters, historical accidents, and American ingenuity, business historian John Steele Gordon leads us on a tour of an American institution whose largely unknown story has been integrally entwined with our country's destiny. At key points in U.S. history, Gordon shows how the national debt has been a potent instrument of fiscal policy in keeping the world safe for democracy.But how much debt is too much? At a time when we despair of balancing even a single year's budget, Hamilton's Blessing provides much needed perspective -- and hope. |
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7 psl.
... borrow only when absolutely necessary , and should pay back borrowed money as quickly as possible so that it is available to be borrowed again when needed . And yet in the last sixty - plus years , the United States has made no attempt ...
... borrow only when absolutely necessary , and should pay back borrowed money as quickly as possible so that it is available to be borrowed again when needed . And yet in the last sixty - plus years , the United States has made no attempt ...
11 psl.
... borrow easily and , as we have seen , borrow it certainly did . But there can hardly be a poorer credit risk than a newly formed government in rebellion against a Great Power . Such governments vanish with defeat , the leaders are ...
... borrow easily and , as we have seen , borrow it certainly did . But there can hardly be a poorer credit risk than a newly formed government in rebellion against a Great Power . Such governments vanish with defeat , the leaders are ...
196 psl.
... borrow the same dollar twice unless we pay it back first . And it should be kept in mind that we no longer are borrowing just from ourselves , as Lord Keynes thought we would . Today 21 percent of the na- tional debt is held by ...
... borrow the same dollar twice unless we pay it back first . And it should be kept in mind that we no longer are borrowing just from ourselves , as Lord Keynes thought we would . Today 21 percent of the na- tional debt is held by ...
Turinys
The Hamiltonian Miracle | 11 |
Andrew Jackson Redeems the Debt | 42 |
Armageddon and the National Debt | 67 |
Autorių teisės | |
Nerodoma skirsnių: 4
Kiti leidimai - Peržiūrėti viską
Hamilton's Blessing The Extraordinary Life and Times of Our National Debt John Steele Gordon Peržiūra negalima - 1997 |
Pagrindiniai terminai ir frazės
Adam Smith Alexander Hamilton American economy amount Andrew Jackson Andrew Mellon became began bill bonds borrow British budget deficit capital central bank century Civil Congress Constitution corporate country's course decade deductions Democratic depression dollar economic economists elected fact federal government Federal Reserve federal spending flat tax Founding Fathers Franklin Roosevelt fund Girard Hamilton impoundment income tax increased inflation interest issue J. P. Morgan Jackson Jay Cooke Jefferson Keynes Keynesian Keynesian economic line-item veto loan Madison Effect major Mellon ment million national debt nearly nomic outlays paid percent percentage personal income tax political politicians president programs prosperity quickly raise Republican result rich Roosevelt Senate sharply Social Security soon speculation surplus Taft tariff tax code tax rate tax revenues tax system taxation tion Treasury U.S. government United veto voted Wall Street Washington Watergate scandal White House write to Penguin wrote York