The Federal Debt Of The United States Of America

1543 Words Jun 29th, 2015 7 Pages
The Notorious Federal Debt of The United States of America Alexander Hamilton was the first individual who introduced the national debt to the U.S. believing that having a debt would be a national blessing. As decades and centuries past by the federal debt continued to grow which led economist’s believing that deficit spending is an important factor. Another contributor to this national debit is also the federal budget the President and congress go over every year, which includes an accelerated rate of discretionary and non-discretionary spending. An interesting fact to know about the national debt is that every person living in the U.S. will have to contribute roughly around $57,000 to end the tyranny of the national debt. One fact that the national debt continues to grow to this day it totals to around 18 trillion dollars which makes me think what our future holds, the time to act is now. What would our founding founders think about our debt, they left our system for us to follow not to make it worse. What do we need to do as a nation to make sure we aren’t slammed with the mistake taken by your government officials and President’s. The brainchild behind the national debt was Alexander Hamilton, the first secretary of the U.S. Treasury. Hamilton saw the national debt as a way to absorb the debts incurred by the individual states during the Revolutionary War. Hamilton also saw it as a device to create capital for the new nations growing industries. In early 1781…
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