George Hall on the History of the U.S. National Debt and Government Financing
Macro Musings with David Beckworth
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The Rise of Bond Financing in the US
Bond financing becomes less important over big expenditures, these wars. After the income tax, World War I and World War II is a big jump. It complicates the picture of the gold standard because it says we don't necessarily need the gold standard to reassure the bondholders who are going to pay a big part of the bill.
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