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Wednesday, February 9, 2011

Video: Origins of the National Debt




Why is it that the US, almost immediately upon President Washington taking office in 1789, intentionally incur a National Debt?  And why is it though various Presidents over time have sought to pay down the Deficit, which is in simple terms, is the equivalent of paying down a credit card's minimum monthly payment, the Debt itself gets mainly ignored, and always increases?

Maybe this brief video from the HBO Miniseries "John Adams" can explain..  The scene is a discussion between Alexander Hamilton, the nation's first Sec of Treasury, and Thomas Jefferson, the US' first Sec. of State.

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