National Finance Quotes
This is an excellent historical quotations showing how our government financed the Spanish American War. Wars have always placed economic stress on the nations which wage then. In the American Revolution we borrowed from individuals and from France. After that all our wars were financed by a combination of war bond sales, other borrowing, and tax increases—all except the George W, Bush Afghanistan and Iraq Wars which were not funded thus complicating an economic crises caused by Bush’s Great Recession. While some critics saw Bush’s actions as reprehensible and irresponsible—it was the only time in American history where tax rates were cut in wartime, Bush’s team had a plan. They had an ideological point of view that said that major tax cuts would spur the economy and lead to MORE government revenue as a result of the growth that would come. However, in this case there not only was no growth, but there was the worst recession in American History. But there was a plan to finance the war—it just went awry.
Prior to this important case, many politicians were of the opinion that the Constitution prohibited taking tax money from one state and spending it in another. There was almost an assumption that States will raise the taxes and expend the funds that are necessary of the society.
