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the debt
Date Submitted: 02/20/2003 06:26:55
Length: 2 pages (519 words)
Views: 51119
In the early days of our government debt was considered to be a last resort. The only justification for debt of any significant amount was a war. By 1849 the U.S. Government had accumulated a surplus of 70 Million Dollars. Immediately after the Civil War the debt stood at 3 Billion Dollars. By 1900 this had been reduced to under $1 Billion. By 1919, the end of World War I, the debt had climbed to $25.5 Billion. In each of the …
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