Our national debt is now so high that most of us have stopped thinking about it, because the prospect of bringing it under control is unimaginable. We consider it a national liability and fear our children will be forced to pay for our current excesses. John Steele Gordon is a welcome antidote. In 1997, his book, Hamilton’s Blessing, offered a “biography” of the debt, making it very much a human drama while explaining the myriad, mostly positive, ways it has influenced America’s history since Alexander Hamilton first proposed the virtues of a national debt in 1792.
However, the 12 years since the book’s initial publication have been perhaps the most dramatic in the debt’s history?since it has more than doubled and continues on an ever-upward spiral. Now, more than ever, we need John Steele Gordon’s wisdom?his revised and expanded edition of Hamilton’s Blessing will put this historic expansion in perspective, allowing us to better participate in debate and discussion.
Bringing a remarkable national institution to life, Gordon offers, in the process, an original view of American history, and insight into both well- and lesser-known figures who have influenced and charted our voyage, from Hamilton to Jay Cooke to John Maynard Keynes to the present. The national debt helped rescue the Union during the Civil War and raise the nation out of the Depression?thus offering hope it may serve a similar purpose in the decades to come.
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- Used Book in Good Condition
Excellent, timely look at history and significance of U.S. national debt This is a revised and updated version of a book originally published in 1997. The author reviews the history of the national debt from the beginning of the United States to the present, and does so in an engaging and informative manner. The book is written in a style that does not assume the reader has any specialized knowledge about financial or tax matters.The author discusses the financial plight of the United States after the American Revolution, and the reasons why Alexander…
A Good Primer on the History of U.S. Fiscal Policy Just two years ago, John Steele Gordon’s book on the history of the U.S. federal debt would have seemed dated, even though it was published in 1997. After more than twenty consecutive years of operating in the red, the U.S. federal government had not only erased its annual deficits and began paying down the debt, but surpluses were projected over the next ten years.This is no longer the case. A tax cut, the war on terrorism, and a slowdown in the economy have combined to push the U.S…