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Neno's Place Established in 2006 as a Community of Reality


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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Did the USA Ever Pay off its Debt Briefly?

    Lobo
    Lobo
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    Join date : 2013-01-12

    Did the USA Ever Pay off its Debt Briefly? Empty Did the USA Ever Pay off its Debt Briefly?

    Post by Lobo Thu 07 Apr 2016, 4:08 pm

    Did the USA Ever Pay off its Debt Briefly? UB1798-Y-MA
    Some people were surprised that I wrote that the USA paid off its debt under Andrew Jackson. What you have to understand is that the debt was effectively a deal between Jefferson and Hamilton. Jefferson forced an agreement that debt had to be paid off and the capital would be put next to Virginia which became Washington, DC.
    The federal government did not issue paper money until 1864, so there was no funding of debt as we know it today. This was the bailout for the States under the Hamiltonian model that was used to create the United States under a Federal government. Hamilton absorbed the war debts of the States (See report on Hamiltonian Model). They paid off the debt briefly and then it returned after Jackson left office.
    https://www.armstrongeconomics.com/world-news/sovereign-debt-crisis/did-the-usa-ever-pay-off-its-debt-briefly/

      Current date/time is Thu 28 Mar 2024, 10:34 am