U.S. debt is a looming crisis today but was once its own revolutionary masterstroke that helped launch a global financial superpower

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Believe it or not, U.S. debt was once a source of national strength, before it became a sword of Damocles hanging over the federal government and the bond market.

While the nation celebrates the 250th anniversary of the Declaration of Independence, the origin of U.S. financial might can be traced back to a controversial decision in 1790 to consolidate debts from the Revolutionary War.