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How much debt did the U.S. have when George Washington first took office?
Wiki User
∙ 10y ago
21.5 Million
Wiki User
∙ 10y ago
The U.S. had a debt of around $75 million when George Washington first took office in 1789. This was primarily the result of borrowing to finance the American Revolutionary War.
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What was created during Washington's time in office?
National Debt
Was the US in debt when washington took office?
Yes, there was a war debt from Revolutionary War expenses.
What was the biggest issue when George Washington was the president of the US?
huge debt.
What was the first problem facing US President George Washington?
US President George Washington understood that the main problem facing the new USA was that the government was almost bankrupt. The Revolutionary war had placed the new nation in serious debt as it first began.
How did George Washington get the US out of debt?
by keepin it real
What has the author George Washington Woodward written?
George Washington Woodward has written: 'Speech of Hon. George W. Woodward, of Pennsylvania, on the debt and currency of the country' -- subject(s): Public Debts
What did George Washington worry about in the new republic?
Because after the Revolutionary war, the economy was horrible from being in debt from France.
Why the whiskey rebellion occurred?
The whiskey rebellion happened because George Washington had a national debt and taxed people on the whiskey to pay the debt.
Who was the only president other than George Washington to have America completely out of debt?
andrew jackson
What problems did the first administration face upon entering office when George Washington was President?
It had a huge war debt. The administration's Alexander Hamilton attempted to fix this debt by having the federal government take over the state debts and then attempt to fix the debt by implimenting customs duties and excise taxes. Also, there was a conflict as to if the U.S. should enter the war between France and Great Britain. Washington's Neutrality Act ended this conflict, although many Democratic-Republicans did not agree with the act.
Why was the US in debt when George Washington became President?
They borrowed money from foreign countries during the revolution.
Did George Washington warn against making foreign alliances and burdening future generations with debt?
yes
