Economics in the US Stephen Peaster Course Number th November History of the debt over the last years America has been in debt since founded in . The country's founding fathers financed most of the wars by borrowing. Shortly after the American Revolutionary War - , the US's public debt rose to million which then grew to about million four decades later Hill, . The US Congress could not raise money to finance the war from taxation since Americans had bad memories of taxation under the British government. As such Presidents Benjamin Franklin, John Adams and several others who followed borrowed mostly from the French government during America's fledgling years. When President Andrew Jackson rose to power, he reduced the debt to zero in . The county remained without any significant debt until the early s just before the start of the American civil war. This period marked the only [...]
Research the following topic using the web as well as other resources you have been given in this course. Write a 3-4 page paper (double spaced, 12 point font) on the following: Address the current budget issues that congress is facing. What is the history of the debt over the last 200 years? What is the cause of the massive increase over the last fifteen years? What are the realistic potential solutions to eliminating budget deficits and decreasing the national debt? What would you recommend and why? Remember to base your writing on the economics of the situation. Your potential grade is 100 points and plagiarism will result in a grade of zero (THIS MEANS CITE YOUR SOURCES). This paper is due on Monday, November 16, 2015.