Wednesday, February 9, 2011
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.
Posted by Susquehanna at Wednesday, February 09, 2011