0
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.
Add your answer:
Earn +20 pts
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
Why was there such a large public debt in thee nation's first economic crisis?
t is because the government spent a lot of money
Is Public debt or External debt bigger?
The Public Debt is debt that is owed by the Government of the United States. The External Debt is that is owed to foreign countries. The current Public Debt is $16,738,541,240,281.19 that over 16 Trillion dollars. The external debt is approximately $15,940,978 that is a lot less than the public debt.
What is the public debt?
The public debt is the debt that the United States government owes to other countries.
Current trends of public debt in India?
trends of public debt in india
What are the Advantages and disadvantages of public debt?
The biggest disadvantage of public debt is the fear of it leading to excessive inflation. The advantage of public debt is the leveraging of public assets to provide services.
When was Ottoman Public Debt Administration created?
Ottoman Public Debt Administration was created in 1881.
What is the deficit always than the public debt?
The deficit is always smaller than the public debt.
Why was there such a large public debt at the beginning of washingtons presidency?
Wars cost money and the infant US had a huge debit from fighting the British.
What triggered the periods of growth and decline of the US federal debt?
debt and bankruptcy
Why is there poverty in Zimbabwe?
Because there is political interference in the established means of production bringing about a situation where goods are no longer being produced leading to unemployment, shortages, inflation, poverty.
How do you contact the Bureau of public debt?
Formed in 1940 The Bureau of the Public Debt is partially setup to track and report public debt. The bureau of the Public Debt borrows money that is needed to run the federal government and to account for the resulting debt, basically paying it back.The Bureau of the Public Debt is part of the U.S. Department of the Treasury.The link is added below to get to the government website which interestingly enough has the figures for the U.S. debt for which now the numbers are in double digit trillions.
How big is the Canadian public debt?
The Canadian public debt, which is also called the "national debt" or the "public debt" in Canada. The cost of the debt is constantly changing. You can find up to date information from a Canadian based website called Debtclock (the website will end in a Canadian domain of .ca)
