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The rise of Napoleon Bonaparte in France muted Jefferson's "revolutionary romanticism" and his Democratic-Republican Party, which won the 1800 elections. [7] Jefferson came to see the war between France and Britain as a battle between the "tyrant of the land" and the "tyrant of the ocean" and perceived the military objective of both as the moral equivalent of the other. [8]
A sovereign default is the failure or refusal of the government of a sovereign state to pay back its debt in full when due. Cessation of due payments (or receivables) may either be accompanied by that government's formal declaration that it will not pay (or only partially pay) its debts (repudiation), or it may be unannounced.
Interest on the Stock created by the Loan in domestic debt, or more properly in the original debt of the United States. Interest on the Stock created by the loan in the Debts of the respective States. Interest on the Balances due to creditor States, which dispositions establish priorities according to the order in which they are here enumerated.
This Is the One Type of Debt That 'Terrifies' Dave Ramsey This article originally appeared on GOBankingRates.com : Warren Buffett’s Financial Plan To Eliminate America’s Debt: ‘I Can End the ...
Taleb, who advises Miami-based hedge fund Universa Investments, told an event hosted by the organization this week that national debt is a "white swan," a risk that's more probable than an ...
A temporary war economy can also be seen as a means to avoid the need for more permanent militarization. During World War II, U.S. President Franklin D. Roosevelt stated that if the Axis powers won, "we would have to convert ourselves permanently into a militaristic power on the basis of war economy." [3]
The U.S. Department of the Treasury manages the national debt by splitting it into two different types: debt that one government agency owes to another and debt that is held by the public.
Britain financed its war expenditures by issuing a combination of unfunded and funded debt. Unfunded debt, short-term obligations not funded by interest payments on the part of the borrower, included army, ordinance, navy, and exchequer bills and was more costly for the treasury to repay than longer-term debt.