Happy anniversary, debt limit! (What do you get for a 96th anniversary gift?)

The U.S. Capitol building.

This final note on the way out, which

  1. Gets us to the political news of the day, and;
  2. Appeals to the history geek in me.

Today is the 96th anniversary of the Second Liberty Bond Act, which in 1917 helped finance the American entry into World War I, with $3.8 billion worth on bonds at a yield of 4 percent.

But that's not the important part.

You know what else was in the Second Liberty Bond Act of 1917? The first ever federal debt limit.

 

About the author

Kai Ryssdal is the host and senior editor of Marketplace, public radio’s program on business and the economy.

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