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What is one of the major problems caused by large national debt?
The problem with debt is you need to repay them. A large national debt would be detrimental to the future generations as they will bear higher tax burden to repay these debts. There are lesser benefits as well since portions of Government revenue will have to be allocated to return debts.
Can a financee be suied for future husband's debts?
No, there is no current connection between the two. Legally she has no obligation for his debts.
Is public debt a burden for future generations?
There really are 3 options. If we pay off our debts, then we do not bequeath them to future generations. We can also default on our debts, and again will not bequeath them to future generations. Or if we don't like those two options, then yes, public debt will become a burden for future generations. Then those future generations will have the same 3 options for dealing with those debts.
Why is it important for countries to show they can pay off their debts?
No country should be financially reliant on another. It shows a weakness and inability for a country to control its own finances. It also places undue burdens on its citizens - who pay for their country's debts by higher taxation.
Article VI deals with national?
supremacy
Why did Hamilton believe that paying off the states wartime debts was important for the future nation?
Hamilton believed that paying off the states' wartime debts was crucial for establishing the creditworthiness of the new nation. By assuming these debts, he aimed to unify the states under a strong federal government, fostering a sense of national identity and cooperation. Additionally, addressing these debts would instill confidence among both domestic and foreign investors, facilitating economic growth and stability for the fledgling country. This financial strategy was key to laying a solid foundation for the United States' future.
Why did Hamilton think it was important to pay the national debt the domestic debt and the state debts?
Hamilton believed that by accepting these debts and their full value, the wealthy creditors, banker, and merchants who owned the bonds would have a stake int he federal government`s success and enough cinfidence in its finical stability to loan it money in the future.
Which region of the country did not support the idea of the national government paying of debts?
West
How did Hamilton get the south to agree to the assumption of state debts?
Alexander Hamilton secured the South's agreement to the assumption of state debts by offering to locate the new nation's capital in the South, specifically along the Potomac River. This compromise addressed Southern concerns about the financial burdens of state debts while also appealing to their desire for a more influential political center. By linking the assumption of debts to the capital's location, Hamilton effectively garnered the necessary support from Southern leaders.
Was ancient Greece capitalist or communist?
They clearly believed in ownership, repayment of debts and that some were wealthier than others and that wealth could be passed from generation to generation. They traded and had individual ownership. They were capitalist.
What were the 3 areas of the national debt that Hamilton wanted the federal government to pay?
Alexander Hamilton aimed for the federal government to assume responsibility for three key areas of national debt: the debts incurred by the Continental Congress during the Revolutionary War, the debts of individual states, and the debts of the federal government itself. This approach was intended to establish national credit, unify the states, and promote financial stability. By consolidating these debts, Hamilton believed the government could strengthen its fiscal position and encourage investment.
Which region of the country did not support the idea of the national government paying off state debts?
West
