Cutting The National Debt

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Title: Cutting The National Debt

Essay Details:

Subject: Social Issues

Author: Bernard T

Date: June 8, 2012

Level: University

Grade: A

Length: 5 / 1468

Essay text:

While our politicians talk of balancing the budget , not one of them has proposed a feasible plan to start paying down the debt. In the early days of our government debt was considered to be a last resort. In 1790, when Alexander Hamilton, as secretary of the Treasury, made his first report on the national debt of the United States, he estimated it at close to $70 million. After alternately rising and falling, the debt stood at only $4 million, or 21 cents per capita, in 1840. That was the lowest point ever reached by the public debt of the U.S. After 1840 it rose to a peak, in the last year of the Civil War, of almost $2...

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