huge debt.
andrew jackson
The war had created a problems with a debt from the cost of the war.
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.
George Washington was President when Alexander Hamilton served as Secretary of the Treasury, managing the federal government's revenue and also its enormous War debt.
One of the main problems facing the new government when George Washington became President was the large war debt from the American Revolution. Alexander Hamilton's plan to solve this problem was to establish a national bank to manage the country's finances and assume the states' debts. This would help stabilize the economy, establish the credit of the United States, and create a strong centralized government.
by keepin it real
The national debt was about $5.77 trillion when GWB took office in 2001.
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
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.
The whiskey rebellion happened because George Washington had a national debt and taxed people on the whiskey to pay the debt.
George Walker Bush increased the national debt by $4.9 million dollars. Doubling it during his presidency.