The war left the nation with a debt of about $27 million.
Congress lacked the money it needed to pay off the government's war debt because of an unbalanced budget. Congress can continue to pay for or extend a war without actually having the money to directly fund it.
Congress lacked the money it needed to pay off the government's war debt because of an unbalanced budget. Congress can continue to pay for or extend a war without actually having the money to directly fund it.
That it left Britain with an enormous debt.
Debt
World War I and World War II
the large civil war debt (A+)
World War 1 left Russia's economy in complete devastation. By the end of the war Russia had 8,000,000,000 rubles of debt.
The congress of the confederation could not tax. The could request tax, but they had no authority. The government went into debt.
Debt.
The French and Indian War.
According to the US Constitution, only Congress has the authority to formally declare war. However, the President can deploy military forces abroad without a formal declaration of war in certain circumstances.