Black Money Business Jobs : Can You Share Examples of Emotional Spending

Destee

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Concerning the debt of nations, it is a bit different.

Most nations (including this one) throughout history go into debt on account of warfare and war expenditures.

This is also a great reason (excuse) to substitute paper notes for gold and silver specie.

The United States started out in debt because of the American Revolution.
The only time in US history the federation was completely debt free was 1834-35.
Since the Civil War we went into debt on account of war and haven't looked back.
The federation's debt at the end of the Civil War was $1 billion dollars.

Wow ... that is so kewl ... Thank you for sharing! :toast:

Okay ... i'll quit trying to appease myself by saying ... i aint alone, the country is in debt too! ... :wink:

Love You!

:heart:

Destee
 

Shikamaru

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May 7, 2011
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Wow ... that is so kewl ... Thank you for sharing! :toast:

Okay ... i'll quit trying to appease myself by saying ... i aint alone, the country is in debt too! ... :wink:

Love You!

:heart:

Destee

Let it suffice to say that war can be extremely profitable... particularly for international lenders ....
 

Shikamaru

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REGISTERED MEMBER
May 7, 2011
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so wht abt during the clinton era....i recall hearing clinton got the US out of debt

Clinton balanced the budget. The US was still in debt, but the debt was declining.

Think of the budget as the income statement over a fiscal year. The overall debt would be in the statement of financial condition.

Budget surpluses or deficits would accrue over time and show in the statement of financial condition.
 

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