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Appendix A – US Treasury Debt, 1790-2012

Appendix A - US Treasury Debt, 1790-2012

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Praise for the Book

Bill White has done something remarkable – he’s written a fascinating book about our economic history that you don’t have to be a policy wonk or historian to enjoy. America’s Fiscal Constitution tells the story of how America has dealt with its debt since its founding, and in doing so provides a compelling roadmap to a more responsible fiscal future.

President Bill Clinton

Bill White’s lucid and pioneering book places the explosion of the national debt in the context of American history. He offers a compelling and illuminating formula for both economic growth and fiscal restraint.

James MacGregor BurnsPulitzer Prize-winning historian and Professor Emeritus at Williams College

If you don’t know history, you’re bound to repeat it. Bill White’s thorough understanding of both finance and government allows him to trace the history of America’s path to the edge of fiscal irresponsibility. His book, America’s Fiscal Constitution: It’s Triumph and Collapse, is a must read for all who want to understand the difficult decisions needed to put America’s fiscal house in order.

Erskine Bowlesformer Chairman of National Commission on Fiscal Responsibility (“Simpson-Bowles Commission”) and White House Chief of Staff

Bill White focuses directly on the gimmicks, obfuscations, and, on rare occasion, the courage with which Congress has approached our looming debt crisis. Our federal statutory debt is now larger than the entire American economy. This is unsustainable. Everyone needs to read this book . . . now.

Pete Domenici (R)former Chairman of the US Senate Budget Committee

In order to understand our fiscal plight, it’s crucial to appreciate how carefully America has dealt with debt in the past. Bill White makes that tale fascinating. The result is cautionary but also inspiring. We can deal with this issue if we embrace the values inbred in our system. Every concerned citizen should read this book.

Walter Isaacsonbest-selling author and former CEO of CNN and managing editor of Time magazine

There are few Americans I believe in and trust more than Bill White. In America’s Fiscal Constitution, White tackles the Godzilla issue of federal debt. With history as his guide, White trailblazes through the Washington, D.C. bureaucratic jungle, revealing Big Truths to the reader that are bolstered with Hard Facts. This should be required reading for every American citizen!

Douglas BrinkleyProfessor of History at Rice University and CBS News Historian

Quite simply, our nation cannot be strong militarily, diplomatically or politically unless it is strong economically, and we cannot remain strong economically unless we deal with our massive debt burden. Bill White’s book, America’s Fiscal Constitution: Its Triumph and Collapse, is a must read for those who believe that we should get our economic house in order.

James A. Baker, IIIformer Secretary of the Treasury and Secretary of State

Bill White has produced a remarkable book. Powerful, penetrating and persuasive on the need to get back to our roots of responsible budgeting. It is a tour de force of our fiscal history. Bill White deserves a gold seal for a clear and compelling call to get America back on track.

Kent Conrad (D)former Chairman of the US Senate Budget Committee

How can we return our federal government to a sound financial footing? Bill White’s thought-provoking and well-told history of our nation’s traditional financial principles is a great place to start. Every citizen can benefit from this book’s practical insights.

Ross PerotFormer Presidential Candidate

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