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Stephen Arnold Douglas (né Douglass; April 23, 1813 – June 3, 1861) was an American politician and lawyer from Illinois.A U.S. Senator, he was one of two nominees of the badly split Democratic Party to run for president in the 1860 presidential election, which was won by Republican candidate Abraham Lincoln.
The debt was just $65 million in 1860, but passed $1 billion in 1863 and reached $2.7 billion by the end of the war. During the following 47 years, there were 36 surpluses and 11 deficits. During this period 55% of the national debt was paid off.
A railroad to the Pacific was planned, and Senator Stephen A. Douglas wanted the transcontinental railway to pass through Chicago. Southerners protested, insisting that it run through Texas, Southern California and end in New Orleans. Douglas decided to compromise and introduced the Kansas–Nebraska Act of 1854.
In 1835, the national debt hit a low of $33,733 when Andrew Jackson was president. But the U.S. started borrowing again as the economy entered a recession in 1837. The country's debt eventually ...
While Douglas believed the cultural heritage factor of production is primary in increasing wealth, he also believed that economic sabotage is the primary factor decreasing it. The word wealth derives from the Old English word wela, or "well-being", and Douglas believed that all production should increase personal well-being. Therefore ...
When Trump was last in the White House in 2020, the federal government was spending $345 billion annually to service the national debt. It was possible to run up the national debt with tax cuts ...
Between 1989-2020, the national debt soared by more than 800% as Congresses and presidents from both parties approved massive spending increases and massive tax cuts at the same time.
The Extension of the Missouri Compromise line was proposed by failed amendments to the Wilmot Proviso by William W. Wick and then Stephen Douglas to extend the Missouri Compromise line (36°30' parallel north) west to the Pacific (south of Carmel-by-the-Sea, California) to allow the possibility of slavery in most of present-day New Mexico and ...