Cabinet Battle #1

What does it mean to assume state debt?

• To reduce the overall debt of a state.
• To increase taxes for state residents.
• To take over the debt of all states

Thomas Jefferson wrote the ....

• Declaration of Independence
• Bill of Rights
• Federalist Papers

Jefferson argues against Hamilton's plan to assume state debt because...

• It is unfair to the states with lower/no debts such as the southern states

• Jefferson argues that state debt should be paid off immediately

• Jefferson believes state debt is necessary for economic growth.

Alexander Hamilton argues that assuming state debt will...

• limit government influence

• Weaken the nation's credit

• strengthen national credit and unify states

Thomas Jefferson argues that the government does have the power to assume state debt and create a national bank.

• True

• False

Hamilton argues the government does have the power to create a national bank because...

• It is necessary for the well being of the country

• He can do whatever he wants

• He doesn't argue this

• The president likes him more

Summarize the arguments made by Jefferson and Hamilton regarding assuming state debt

Groups:

(a) Jefferson

,

(b) Hamilton

• We should NOT assume state debts

• Assuming debt will improve our credit

• Assuming debt is NOT fair to state with lower debt

• Federal government should have this power

• Southern states should be responsible for other states debt

• We must assume state debts

• Assuming debt will create a stronger more unified nation

• Federal government does not have this power