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Depends what you mean by large. The US has been in debt since day 1 due to Revolutionary War Debts owed to probably France. The only time it's been zero was during Andrew Jackson's presidency about 1835. First major surge in debt was the war of Northern Aggression (aka Civil War). Pretty much every war created huge surges in the Public debt, especially World War I, World War II, Cold War, War on Terrorism.
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Earn +20 ptsQ: When was the First Large Growth in Public Debt?
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Continue Learning about American Government
What triggered the periods of growth and decline of the US federal debt?
debt and bankruptcy
Public debt today is measured in how many dollars?
Trillions
How does deficit financing add to the public debt?
deficit financing adds to public debt because it is regularly spending more than it takes in each year-and then borrows to make up the difference.
The first national income tax was passed to?
pay civil war debt
Why was the first national bank proposed by Alexandria Hamilton?
Pay off the national debt
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