Why would President George Washington warn the country to avoid debt ?

1 answer:

3 0

President George Washington warned Americans to “value public credit” because it was a very critical foundation of strength and security of the country. The Founding Founders believed that safeguarding life, liberty and property was the most important public seervice that the government had to deliver, so jeopardizing public credit, especially for the purpose of partisan politics, was something Washington would have opposed. To preserve public , peace must be maintained by avoiding war and spending just enough for defense. If the government overspends then it would lead to raising and creating taxes which was necessary to pay the expense.

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