What does that kind of money look like?. $100:. We'll start with a hundred dollar bill. Currently the largest U.S. denomination in general circulation. Most everyone has seen them, slightly fewer have owned them. Guaranteed to make friends wherever they go. .
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National Debt Today, America owes…..
Presentation on theme: "National Debt Today, America owes….."— Presentation transcript:
Today, America owes…..Slide3
What does that kind of money look like?$100: We'll start with a hundred dollar bill. Currently the largest U.S. denomination in general circulation. Most everyone has seen them, slightly fewer have owned them. Guaranteed to make friends wherever they go. Slide4
$10,000: A packet of one hundred hundred dollar bills is less than 1/2" thick and contains ten thousand dollars. Fits in your pocket easily and is more than enough for a week or two of shamefully decadent fun.Slide5
$1,000,000: Believe it or not, this next little pile is a million dollars (100 packets of $10,000). You could stuff that into a grocery bag and walk around with it. Slide6
$100,000,000: While a measly 1 million dollars looked a little unimpressive, 100 million dollars is a little more respectable. It fits neatly on a standard pallet... Slide7
$1,000,000,000: A BILLION dollars... now we're really getting somewhere... Slide8
$1,000,000,000,000: A TRILLION dollars! This is that number we've been hearing about so much. What is a trillion dollars? Well, it's a million million. It's a thousand billion. And notice that those pallets are double-stacked. So the next time you hear someone toss around the phrase "trillion dollars"... this is what they're talking about. Slide9
Our National Debt TodaySlide10
What are you going to do about it?Slide11
SWITCH BACKGeorge Washington had a huge task to face. Not only did he have to set up a brand new government, he had to figure out how to pay off all that debt!So he handed over the task of fixing America’s finances to his Secretary of Treasury…..ALEXANDER HAMILTONSlide12
Alexander HamiltonAide to General Washington during the Revolutionary WarStrong Interest in business mattersSecretary of the TreasuryHotheadSlide13
National DebtU.S. owed $11.7 million to foreign countriesGovernment owed $40.4 million to U.S. citizens90 80
Government Operating Expenses
Federal and State Debts
Revenue from Tariffs
Total Money Owed
National DebtSome of the debt was in the form of bondsSlide15
National DebtBonds were certificates that people bought during the Revolutionary War. Officials promised to buy back the bonds with interest, allowing the buyers to make a profit. Slide16
National DebtPeople started selling bonds for less than the original value to speculators.Slide17
National DebtSpeculators are people who buy items at low prices in the hope that the value will rise.Slide18
Hamilton wanted to pay back the war bonds in full.
Majority of Congress agreed with Hamilton
This would allow speculators to make a profit.
That would cheat the original bondholders who had sold their bonds at low prices.
THIS IS NOT THE ENDSlide19
States DebtsHamilton wanted the government to pay the bulk of states debtsBut states that didn’t have a lot of debt did not want to help pay back other states debt.Slide20
CompromiseSoutherners wanted a different capitol, farther away from northern influenceHamilton promised to convince northern members of Congress to move the capitalIn exchange, Jefferson and Madison agreed to gather support in the South for Hamilton’s debt payment plan.If the Southern states would help pay off the debt,Then Hamilton promised to change the capital to…Slide21
Let’s Go to the Mall!Slide23Slide24Slide25Slide26
The French RevolutionThree Estates The ChurchThe AristocracyEveryone elseBourgeois (rich people with no title)Merchants (traders and business men)Serfs (poor people)The Tennis Court Oath
The Three Estates agree that they must work together
The question now is what to do with the king
Make him a regular citizen or a Constitutional Monarch
Famous Americans sit on the committee:
Marquis de Lafayette
The French RevolutionKing Louis XVI tries to escapeKing and Queen are beheaded at the guillotine
Radicals take over and the “Reign of Terror” begins. Slide29
The Neutrality Proclamation stated that the
United States would not take sides with countries at war in Europe.
Many criticized Washington for staying neutral and James Madison even questioned his right to issue the proclamation without Congress approval!Slide30
Citizen GenetEdmond Genet was France’s new representative to the United StatesAmericans were swept up in the Revolution’s causeWashington warned Genet against recruiting privateers, Genet said he would ask the American people to overrule WashingtonHe obviously got sent homeSlide31
Jay’s TreatyBritain Gives:Pay damages for seized American shipsMerchant ships could continue trading in the CaribbeanAbandon forts on the frontierAmerica Gives:Pay the pre-Revolutionary debts owed to British merchantsSlide32
Pickney’s TreatyUnder this treaty, Spain agreed to change the Florida border. Spain’s government opened the port at New Orleans to American ships and gave them right of deposit.Allowed American boats to transfer their goods at New Orleans without paying fees on the cargoThis opened the frontier to further expansionSlide33
Washington’s Farewell AddressSlide36
Who was George Washington?
National Debt Today, America owes….. - Description
What does that kind of money look like 100 Well start with a hundred dollar bill Currently the largest US denomination in general circulation Most everyone has seen them slightly fewer have owned them Guaranteed to make friends wherever they go ID: 632762 Download Presentation
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