George Hall on the History of the U.S. National Debt and Government Financing
Macro Musings with David Beckworth
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The Importance of Albert Gallatin in US Treasury Markets
Jefferson and Madison were very much opposed to this plan, because they say it's a big giveaway to the bondholders at the expense of the taxpayer. After the war, Madison repays bondholders dollar for dollar. And when you look at it, he gives the bondholders an even better rate of return and even treats them better than Hamilton did.
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