Question

25 pnts! BRAINLIST IF CORRECT!! The United States government was in debt from its beginning. How did the U.S. get into debt, and to whom did it owe money?

Answer 1

Answer:

The U.S. own money to China.

The Continental Congress or the rough equivalent of the Federal government in revolution-era America, lacked the power to tax. So, it first tried to pay for stuff by printing money. This currency, known as the Continental, ended up collapsing. The nascent US government also raised cash by borrowing under all sorts of authorities.