As the August 2nd deadline looms closer, the House hit another roadblock on the road to increase the federal debt limit. ... The members of the negotiations were hoping that this week's accelerated schedule of meetings could end in a budget breakthrough where members of both parties would back the push for an increase in the federal debt ceiling in the coming months (Hulse). ... Treasury Secretary Timothy Geithner and Federal Reserve Chairman Ben Bernanke fear that if the August 2nd deadline is not met with an increase in the nation's debt ceiling, the U.S. could possibly default...

• Word Count: 795
• Approx Pages: 3
• Has Bibliography
• Grade Level: High School

It was over two hundred years ago that the Democratic Party's founding fathers decided that a stable government must be built. In 1792 Thomas Jefferson founded the Democratic Party, and he was the first democratic president of the United States in 1800. Jefferson served two terms, and James Madison...

• Word Count: 676
• Approx Pages: 3
• Grade Level: High School

In May 1814 Jackson was made a major general in the regular (federal) army. ... Following the lead of the pet banks, wildcat banks issued notes of their own that were backed up by insufficient specie reserves. ...

• Word Count: 1269
• Approx Pages: 5
• Grade Level: High School

Now with no national bank, Jackson attempted to invest the funds he withdrew from banks into smaller institutions and with the sudden realization that paper money and banknotes were no longer backed by the federal government's gold and silver reserves, inflation and debt grew rapidly. ...

• Word Count: 1152
• Approx Pages: 5
• Has Bibliography
• Grade Level: High School