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Product details
File Size: 5561 KB
Print Length: 224 pages
Publisher: Bloomsbury USA; 1 edition (December 1, 2010)
Publication Date: December 1, 2010
Sold by: Amazon Digital Services LLC
Language: English
ASIN: B004G5YX1W
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#368,555 Paid in Kindle Store (See Top 100 Paid in Kindle Store)
John Steele Gordon has taken what could be an amazingly dull topic, limited in appeal, and translated it into a spectacular read for anyone with at least a basic education. This great little book is a welcome addition for folks interested in finance, the U.S. economy, and the national deficit. Nonetheless, despite its breezy style and short length (traits typically necessary for widespread appeal), I don't expect it will reach a wide audience. Consider yourself lucky that you've discovered this plain-language, excellent primer on how our national debt came to be!The author's premise, like that of Alexander Hamilton, is that a national debt can be used constructively to monetize an economy. Both men were quite correct, and the debt served its purpose beautifully in supporting the fledging United States of America. It's subsequently been bastardized by numerous administrations, as a means of funding open-ended congressional and executive expenditures of middling value. Throughout the narrative of changes in the U.S. debt, the author details the creation and destruction of the National Bank of the United States. This institution flourished under Federalist rule, and languished or disappeared entirely when populist presidents (Thomas Jefferson, Andrew Jackson) sat in office.Overall, a remarkable book that will be discovered by too few, and certainly treasured by those lucky enough to discover it.
This was the second book I read on my new Kindle and I thoroughly enjoyed it. While reading, the US Government was in the midst of contentious negotiations over the debt ceiling. The day before I finished, S&P downgraded the US from it's AAA rating. The author's timing was perfect on educating the masses about an important subject in our country today. The author does a great job outlining the history of the national debt, the players and why certain decisions have been made over the last 200+ years. He introduces major actors whose names aren't well-known, but have helped rescue the American economy during national emergencies. I think he did a fantastic job of explaining the methods and motivations of both the left and the right without being partisan.Highly recommended to history buffs and those interested in discussion points for friendly political debate!
This sets straight a lot of misconceptions about the national debt, such as how it got us out of the debt amassed during the War of Independence, how managing debt properly enhances creditworthiness and where our current debt is likely taking us. Written for people, not economists.
Wonderful historical review of how our debt got to where it is today, and why. With the constant barrage of news one gets about the national debt nowadays, it is easy to forget that this has been a subject of debate since the inception of our country. A good informal, informative book on the subject. Worth a read for the casual reader who wants to widen their perspective on a hot topic.
I have recommended this book to a few of my friends thus far. It is an interesting historical reference of "The Extraordinary Life and Times of Our National Debt."This book also provides a history of the economic calamities that led to the decision to begin deficit spending and it continues further up to the present.I believe the author does show some conservative leanings but it isn't overt in my opinion. It also helped that I agree with him on the few suggestions he gave. Still it is a must read to get your head around why, as a nation, deficit spending was established.Thanks,Kenneth
It's a bit dry at times if you aren't enthralled by economics, but this slender history does a good job of recounting the history and impact of our national debt.
I have already enjoyed several books from John Gordon and this is no exception. Gordon provides some interesting information on the National Debt since the dawn of our nation. He ends with a stern warning about the wreckless nature of Washington's budgeting over the last 20 years.
This book gives an excellent history of the U.S. Debt. It demonstrates very simply how it got to the crazy levels we are seeing today, and how we can get it under control. Very easy to read.
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