For debt crisis lessons, look back 225 years
America's political leaders are paralyzed. The government is reeling from debt. Corrupt bankers foreclose on people's homes as a brutal recession sweeps the land.
We're talking, of course, about the great debt standoff of 1786: Shays' Rebellion.
Nervous Americans glancing at the upcoming August 2 deadline for raising the debt ceiling are being told that the nation is entering uncharted territory. But historians say they've seen this movie before.
Many of the same issues driving this modern-day standoff -- disagreement on how to handle the national debt, ineffective government and a populist citizen's revolt -- drove the 18th-century uprising that's been called America's first civil war.
Historians say the lesson that can be drawn from Shays' Rebellion and other transformative events in U.S. history is this: Protracted political gridlock is seldom resolved through compromise. It comes when one political party finally beats the other down.
Many Americans, however, have told pollsters that they want the political parties to work together to solve the debt ceiling crisis. Yet political stability doesn't always come through give-and-take, some historians say....
comments powered by Disqus
- Sephardic Jews Feel Bigotry’s Sting in Turkey and a Pull Back to Spain
- Yemen museum destroyed
- Viking beaters: Scots and Irish may have settled Iceland a century before Norsemen
- New History Dispute Splits U.S. Allies in Asia
- NYT hosts debate including Eric Foner: How Americans should remember Reconstruction
- William Leuchtenburg says historians and the media have been too hard on Obama
- Hugh Ambrose, historian who helped develop WWII Museum, dead at 48
- Historian discounts claim that Churchill and other British PM's were gay
- Nick Bunker Wins $50,000 2015 George Washington Book Prize