Penniless Presidencies

Alan Axelrod, author of Full Faith and Credit: The National Debt, Taxes, Spending, and the Bankrupting of America, opens the conversation explaining why the U.S.’s perilous gross debt to GDP ratio may be past the point of no return. Axelrod’s stories of our most to least fiscally responsible presidents reveal our trajectory—from the parsimonious George Washington to Thomas Jefferson’s Louisiana Purchase extravagance, Abraham Lincoln’s budget busting Civil War, and modern presidents’ bailouts paving the road to national bankruptcy.

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