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The history of the United States debt ceiling deals with movements in the United States debt ceiling since it was created in 1917. Management of the United States public debt is an important part of the macroeconomics of the United States economy and finance system, and the debt ceiling is a limitation on the federal government's ability to manage the economy and finance system.
Debt increased again during World War I (1914–1918), reaching $25.5 billion at its conclusion. Approximately $17 billion in debt was raised through the selling of Liberty Bonds to the general public to finance the U.S.'s military effort. The war was followed by 11 consecutive surpluses that saw the debt reduced by 36% by the end of the 1920s ...
Adams, James Truslow, ed. Dictionary of American History (5 Vols. 1940) Kutler, Stanley I. ed. Dictionary of American History (3rd Edition 10 Volumes, 2003) Martin, Michael. Dictionary of American History (Littlefield, Adams 1989) Morris. Richard, ed. Encyclopedia of American History (7th ed. 1996) Purvis, Thomas L.
Over a century later, the public debt topped $1 trillion for the first time in 1982 under Ronald Reagan and more than doubled during his presidency — and it's been climbing steadily since then.
The debt ceiling is an aggregate of gross debt, which includes debt in hands of public and in intragovernment accounts. The debt ceiling does not necessarily reflect the level of actual debt. From March 15 to October 30, 2015 there was a de facto debt limit of $18.153 trillion, [ 188 ] due to use of extraordinary measures .
Exports and related services accounted for about one-sixth of income in the decade before revolution. Just before the revolution, tobacco was about a quarter of the value of exports. Also at the time of the revolution the colonies produced about 15% of world iron, although the value of exported iron was small compared to grains and tobacco. [7]
The first era of major change to the government was the Jacksonian Era in the 1830s, which saw changes to the structure of the executive branch and the abolition of the national bank. The nullification crisis in response to high tariffs was the first serious threat to the unity of the United States, with South Carolina threatening secession ...
A History of the United States since the Civil War. Volume V, 1888–1901 (Macmillan, 1937). 791pp; comprehensive old-fashioned political history; Rhodes, James Ford. History of the United States from the Compromise of 1850: 1877–1896 (1919) online complete; old, factual and heavily political, by winner of Pulitzer Prize; Shannon, Fred A.