Two key years mentioned in the brief history of debt are:
- 1790 : This year is significant because it marks the establishment of the U.S. federal debt, setting a foundational precedent for public debt in America.
- 1919 : The Treaty of Versailles imposed a $32 billion debt on Germany following World War One, requiring payments in foreign currency, which had profound economic consequences including hyperinflation and occupations to enforce debt payments.
These years are important as 1790 marks the beginning of formal national debt management in the U.S., and 1919 represents a pivotal moment where war debt had deep and lasting impacts on a nation's economy and political stability.
