A History of U.S. Debt Defaults

By John S. Chamberlain on Jul 25, 2011   National  

This month, the president of the United States angrily walked out of ongoing negotiations over the raising of the debt ceiling from its legislated maximum of $14.294 trillion dollars. This prompted a new round of speculation over whether the United States might default on its financial obligations. In these circumstances, it is useful to recall […]