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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49 psl.
... ment had ever tried to float up to that time , and Albert Gallatin , the secretary of the treasury , designed the loan to attract small investors . They could purchase loan cer- tificates in denominations as small as $ 100 and pay for ...
... ment had ever tried to float up to that time , and Albert Gallatin , the secretary of the treasury , designed the loan to attract small investors . They could purchase loan cer- tificates in denominations as small as $ 100 and pay for ...
100 psl.
... ment for the first time , naturally had no objection to tax- ing the rich twice . Since the vast majority of the people were unaffected by either tax , there was little political pressure to not do so . Because the taxes on corporate ...
... ment for the first time , naturally had no objection to tax- ing the rich twice . Since the vast majority of the people were unaffected by either tax , there was little political pressure to not do so . Because the taxes on corporate ...
141 psl.
... ment would have been operating in surplus over the pre- vious few years , and thus any deficit in the actual budget was justified as a stimulus to the economy to help it reach the Holy Grail of optimum . There was a big problem with ...
... ment would have been operating in surplus over the pre- vious few years , and thus any deficit in the actual budget was justified as a stimulus to the economy to help it reach the Holy Grail of optimum . There was a big problem with ...
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