Author: Benjamin Ulysses RatchfordPublisher:
ISBN:
Category : Debts, Public
Languages : en
Pages : 668
Book Description
American State Debts
Author: Benjamin Ulysses RatchfordPublisher:
ISBN:
Category : Debts, Public
Languages : en
Pages : 668
Book Description
American State Debts
Author: American State Debts
Author: B. U. RatchfordPublisher:
ISBN: 9780404052263
Category : Political Science
Languages : en
Pages :
Book Description
Understanding the National Debt
Author: Carl LanePublisher:
ISBN: 9781594162664
Category : BUSINESS & ECONOMICS
Languages : en
Pages : 0
Book Description
The staggering United States debt has a direct impact on every American, yet few are aware of where the debt came from and how it affects their lives The United States has a debt problem--we owe more than $18 trillion while our gross domestic product, the value of all goods and services produced in America, is only $17.5 trillion. To pay down the debt, some recommend austerity, cutting federal expenditures. Others suggest increasing taxes, especially on the wealthiest Americans. In Understanding the National Debt: What Every American Needs to Know, economic historian Carl Lane urges that the national debt must be addressed in ways beyond program cuts or tax increase alternatives, but change can only occur when more Americans understand what constitutes our debt and the problems it causes. The gross national debt is composed of two elements: the public debt and "intragovernment holdings." The public debt consists of bonds, bills, and notes purchased by individuals, banks, insurance companies, hedge and retirement funds, foreign governments, and university endowments. Intragovernment holdings refers to money that the U.S. Treasury borrows from other parts of the government, principally Social Security and Medicare. This accounts for approximately a quarter of the gross national debt, but that is money that we owe to ourselves, not another entity. The more the government borrows, the less is available for private sector investment, creating a "squeeze" effect that inhibits economic growth. The most burdensome problem is the interest due each year on the debt. Every dollar spent on interest is a dollar less for other purposes. Those elements of the federal budget which are termed "discretionary" suffer. The mandatory elements of the budget--Social Security, Medicare, Medicaid, and the interest on the debt--must be provided for, but defense and national security, education, energy, infrastructure repair and development, and other needs wind up with less. By understanding the national debt we have an opportunity to address our real debt challenge--its principal and interest.
Defaulted Debts of the Southern States of the United States of America
Author: Corporation of Foreign Bondholders (Great Britain)Publisher:
ISBN:
Category : Debts, Public
Languages : en
Pages : 44
Book Description
One Nation Under Debt: Hamilton, Jefferson, and the History of What We Owe
Author: Robert E. WrightPublisher: McGraw Hill Professional
ISBN: 0071543945
Category : Business & Economics
Languages : en
Pages : 433
Book Description
Like its current citizens, the United States was born in debt-a debt so deep that it threatened to destroy the young nation. Thomas Jefferson considered the national debt a monstrous fraud on posterity, while Alexander Hamilton believed debt would help America prosper. Both, as it turns out, were right. One Nation Under Debt explores the untold history of America's first national debt, which arose from the immense sums needed to conduct the American Revolution. Noted economic historian Robert Wright, Ph.D. tells in riveting narrative how a subjugated but enlightened people cast off a great tyrant-“but their liberty, won with promises as well as with the blood of patriots, came at a high price.” He brings to life the key events that shaped the U.S. financial system and explains how the actions of our forefathers laid the groundwork for the debt we still carry today. As an economically tenuous nation by Revolution's end, America's people struggled to get on their feet. Wright outlines how the formation of a new government originally reduced the nation's debt-but, as debt was critical to this government's survival, it resurfaced, to be beaten back once more. Wright then reveals how political leaders began accumulating massive new debts to ensure their popularity, setting the financial stage for decades to come. Wright traces critical evolutionary developments-from Alexander Hamilton's creation of the nation's first modern capital market, to the use of national bonds to further financial goals, to the drafting of state constitutions that created non-predatory governments. He shows how, by the end of Andrew Jackson's administration, America's financial system was contributing to national growth while at the same time new national and state debts were amassing, sealing the fate for future generations.
The Public Debt and the Public Credit of the United States
Author: I. A. H.Publisher:
ISBN:
Category : Debts, Public
Languages : en
Pages : 32
Book Description
Public Debt of the United States
Author: James Sloan GibbonsPublisher:
ISBN:
Category : Debts, Public
Languages : en
Pages : 304
Book Description
Foreign Bondholders and American State Debts
Author: Reginald Charles McGranePublisher:
ISBN: 9781258620462
Category :
Languages : en
Pages : 422
Book Description
Forgive Us Our Debts
Author: Andrew L. YarrowPublisher: Yale University Press
ISBN: 0300145330
Category : Business & Economics
Languages : en
Pages : 185
Book Description
In this immensely timely book, Andrew Yarrow brings the sometimes eye-glazing discussion of national debt down to earth, explaining in accessible terms why federal debt is rising (and will soon rise much faster), what effects it may have on Americans if debt is not brought under control, why our government borrows, and what it will take to pay it all back. The picture Yarrow paints should concern all Americans. Specifically, he brings to light how rising Medicare, Social Security, and other spending on one hand, and insufficient government revenues on the other, make a mockery of fiscal responsibility. Deficits and debt, Yarrow asserts, are crowding out spending on needed investments in science, environment, infrastructure, and other domestic discretionary programs and could severely harm our nations and our citizens future. But he makes clear that this does not have to be a doomsday scenario. If we act in a bipartisan fashion to restore fiscal health, our legacy to the next generation can be much more than trillions of dollars of IOUs.