Download or read book A Nation Wholly Free written by Carl Lane and published by . This book was released on 2020-08-21 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Only Time America Was Free of Debt--and How It Led to the Two-Party Political System "An engaging treatment of a topic of perennial concern and frequent misunderstanding, this lucid tale of the brief moment when the United States was debt-free should be on every Congress member's bedside table."--Peter J.Woolley, Professor of Comparative Politics, Fairleigh Dickinson University When President James Monroe announced in his 1824 message to Congress that, barring an emergency, the large public debt inherited from the War for Independence, the Louisiana Purchase, and the War of 1812 would be extinguished on January 1, 1835, Congress responded by crafting legislation to transform that prediction into reality. Yet John Quincy Adams, Monroe's successor, seemed not to share the commitment to debt freedom, resulting in the rise of opposition to his administration and his defeat for reelection in the bitter presidential campaign of 1828. The new president, Andrew Jackson, was thoroughly committed to debt freedom, and when it was achieved, it became the only time in American history when the country carried no national debt. In A Nation Wholly Free: The Elimination of the National Debt in the Age of Jackson, award-winning economic historian Carl Lane shows that the great and disparate issues that confronted Jackson, such as internal improvements, the "war" against the Second Bank of the United States, and the crisis surrounding South Carolina's refusal to pay federal tariffs, become unified when debt freedom is understood as a core element of Jacksonian Democracy. The era of debt freedom lasted only two years and ten months. As the government accumulated a surplus, a fully developed opposition party emerged--the beginning of our familiar two-party system--over rancor about how to allocate the newfound money. Not only did government move into an oppositional party system at this time, the debate about the size and role of government distinguished the parties in a pattern that has become familiar to Americans. The partisan debate over national debt and expenditures led to poorly thought out legislation, forcing the government to resume borrowing. As a result, after Jackson left office in 1837, the country fell into a major depression. Today we confront a debt that exceeds $17 trillion. Indeed, we have been borrowing ever since that brief time we freed ourselves from an oversized debt. A thoughtful, engaging account with strong relevance to today, A Nation Wholly Free is the fascinating story of an achievement that now seems fanciful.
Download or read book A History of the American Nation written by Andrew Cunningham McLaughlin and published by . This book was released on 1899 with total page 718 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book American State Papers written by United States. Congress and published by . This book was released on 1834 with total page 872 pages. Available in PDF, EPUB and Kindle. Book excerpt: class I. Foreign relations. 6 v. 1st Cong.-20th Cong., 1st sess., April 30, 1789-May 24, 1828.--class II. Indian affairs. 2 v. 1st Cong.-19th Cong., May 25, 1789-March 1, 1827.--class III. Finance. 5 v. 1st Cong.-20th Cong., 1st sess., April 11, 1789-May 16, 1828.--class IV. Commerce and navigation. 2 v. 1st Cong.-17th Cong., April 13, 1789-Feb. 25, 1823.--Class V. Military affairs. 7 v. 1st Cong.-25th Cong., 2d sess., Aug. 10, 1789-March 1, 1838.--class VI. Naval affairs. 4 v. 3d Cong.-24th Cong., 1st sess., Jan 20, 1794-June 15, 1836.--class VII. Postoffice department. 1 v. 1st Cong., 2d sess.-22d Cong., Jan. 22, 1790-Feb. 21, 1833.--class VIII. Public lands. 8 v. 1st Cong.-24th Cong., July 1, 1790-Feb. 28, 1837.--class IX. Claims. 1 v. 1st Cong., 2d sess.-17th Cong., Feb. 5, 1790-March 3, 1823.--class X. Miscellaneous. 2 v. 1st Cong.-17th Cong., April 17, 1789-March 3, 1823.
Download or read book Principles of Commerce written by Harry Gunnison Brown and published by . This book was released on 1920 with total page 584 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Outlook written by Lyman Abbott and published by . This book was released on 1898 with total page 1060 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Understanding the National Debt written by Carl Lane and published by . This book was released on 2016 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The staggering United States debt has a direct impact on every American, yet few are aware of where the debt came from and how it affects their lives The United States has a debt problem--we owe more than $18 trillion while our gross domestic product, the value of all goods and services produced in America, is only $17.5 trillion. To pay down the debt, some recommend austerity, cutting federal expenditures. Others suggest increasing taxes, especially on the wealthiest Americans. In Understanding the National Debt: What Every American Needs to Know, economic historian Carl Lane urges that the national debt must be addressed in ways beyond program cuts or tax increase alternatives, but change can only occur when more Americans understand what constitutes our debt and the problems it causes. The gross national debt is composed of two elements: the public debt and "intragovernment holdings." The public debt consists of bonds, bills, and notes purchased by individuals, banks, insurance companies, hedge and retirement funds, foreign governments, and university endowments. Intragovernment holdings refers to money that the U.S. Treasury borrows from other parts of the government, principally Social Security and Medicare. This accounts for approximately a quarter of the gross national debt, but that is money that we owe to ourselves, not another entity. The more the government borrows, the less is available for private sector investment, creating a "squeeze" effect that inhibits economic growth. The most burdensome problem is the interest due each year on the debt. Every dollar spent on interest is a dollar less for other purposes. Those elements of the federal budget which are termed "discretionary" suffer. The mandatory elements of the budget--Social Security, Medicare, Medicaid, and the interest on the debt--must be provided for, but defense and national security, education, energy, infrastructure repair and development, and other needs wind up with less. By understanding the national debt we have an opportunity to address our real debt challenge--its principal and interest.
Download or read book Miscellaneous Works of Henry C Carey written by Henry Charles Carey and published by . This book was released on 1883 with total page 574 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Youth and the New World written by Ralph Philip Boas and published by . This book was released on 1921 with total page 342 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Public written by Louis Freeland Post and published by . This book was released on 1911 with total page 1338 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Atlantic Monthly written by and published by . This book was released on 1924 with total page 1592 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Contributions from the United States National Herbarium written by United States National Herbarium and published by . This book was released on 1916 with total page 902 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The National Review written by and published by . This book was released on 1904 with total page 898 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Beer Its History and Its Economic Value as a National Beverage written by Frederick William Salem and published by . This book was released on 1880 with total page 316 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Journal of Proceedings and Addresses of the National Educational Association written by National Educational Association (U.S.) and published by . This book was released on 1901 with total page 1056 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Army Navy Air Force Register and Defense Times written by and published by . This book was released on 1907 with total page 692 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Speeches Lectures and Letters written by Wendell Phillips and published by . This book was released on 1894 with total page 584 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book American Freak Show written by Willie Geist and published by Hachette Books. This book was released on 2011-08-02 with total page 177 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is not the first book written about quantum mechanics, but it just might be the last. The theory presented inside these pages is so revolutionary that it has stunned the scientific community into reconsidering centuries of thought about the behavior of energy and matter. Prepare to have your mind blown. Sorry, that's the introduction to Willie Geist's next book--the culmination of his life's work. Look for it next spring, just in time for Mother's Day. This book is about his other passion: freaks. When he's not in the lab, Geist spends his time on MSNBC's Morning Joe sifting through the wreckage of American politics and popular culture. These days, that's a big job. With an Alaska hockey mom turning, almost overnight, into a national icon and threatening to move from Wasilla to the White House, with the world's most famous athlete now associated less with the Masters and more with the strippers, and with reality TV working around the clock to ensure the constitutional right of every man, woman, and child to fifteen minutes of fame, Geist's business is thriving. In his hilarious first book, American Freak Show, Geist takes the smart, biting observation loved by his television audience to new satirical extremes. The real-life characters who now haunt our daily lives are cast as stars in completely made-up scenes that, frankly, are not all that far from reality. Geist treats us to the first look at President Sarah Palin's unconventional inaugural address, performed live on WWE's Monday Night Raw after her renegade victory in the 2012 election. We go inside the ballroom for a Dean Martin-style welcome roast of Bernie Madoff upon his arrival in Hell, with Pol Pot serving as sidesplitting roastmaster. Geist provides us with never-before-seen FBI wiretap transcripts of the more mundane, but equally profane, telephone conversations of former Illinois governor Rod Blagojevich. And George W. Bush's batting-cage-and-waterslide-themed plans for a presidential library are laid out publicly for the first time. From Obama to Oprah, Afghanistan to Lohan, and Snooki to the Salahis, Willie Geist spares no one as our host of this wild American Freak Show. You'll laugh out loud while weeping for the future of America.
