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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79 psl.
... raised fully two - thirds of its revenues by selling bonds . The South , with few large banks and little financial exper- tise , could raise less than 40 percent of its revenues by this means . Cooke's singular service in helping to ...
... raised fully two - thirds of its revenues by selling bonds . The South , with few large banks and little financial exper- tise , could raise less than 40 percent of its revenues by this means . Cooke's singular service in helping to ...
118 psl.
... raise their own prices . The result , of course , was less , not more , tariff reve- nue and a quickly widening budget deficit . By 1931 the deficit was projected at $ 750 million just for the first quar- ter , an unprecedented sum for ...
... raise their own prices . The result , of course , was less , not more , tariff reve- nue and a quickly widening budget deficit . By 1931 the deficit was projected at $ 750 million just for the first quar- ter , an unprecedented sum for ...
134 psl.
... raise $ 16 million , raised $ 58,000 instead . People simply stopped buying boats and airplanes . So rather than raising revenue , the new tax caused 10,000 layoffs in those industries . To use the car analogy again : In this instance ...
... raise $ 16 million , raised $ 58,000 instead . People simply stopped buying boats and airplanes . So rather than raising revenue , the new tax caused 10,000 layoffs in those industries . To use the car analogy again : In this instance ...
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