Picture this: the brand new United States just won its independence, but by 1786 it owed $40 million and couldn't pay a dime of it. That's roughly $1.2 billion in today's money, and the government had zero power to collect taxes. Michael Stevens breaks down how America's first attempt at government created the perfect financial disaster. 🎯 What You'll Learn: • Why states only paid 37% of what Congress actually requested between 1781-1789 • How Rhode Island's money printing spree triggered 1000% inflation (and why other states followed) • The moment foreign creditors in France and Holland threatened to cut America off completely • Why this financial mess forced the creation of an entirely new government 👤 Perfect for: anyone curious about how financial crises shape entire nations and why America's founding wasn't as smooth as your history textbook made it seem. 📍 Chapters: [00:00] Michael Stevens introduces America's $40 million problem [01:45] The Articles of Confederation's fatal flaw with taxation [03:30] When states started printing money like it was Monopoly cash [05:15] Foreign creditors lose faith in American promises [07:00] Why Congress couldn't force anyone to pay anything [09:30] The crisis that sparked the Constitutional Convention The young republic couldn't tax, couldn't borrow, and couldn't pay its bills. Sound familiar? Stevens connects this 18th-century financial meltdown to modern government debt crises and shows why understanding this particular collapse explains so much about how America actually works today. This isn't just ancient history. It's the blueprint for every government financial crisis since. 🔔 Never miss an episode: Follow When Rome Burns on Spotify or Apple Podcasts and turn on notifications. New episodes drop daily, your next favorite historical disaster is one tap away. 🔍 Topics: Articles of Confederation, American Revolution debt, early American government, financial crisis, constitutional convention

Stream the full show at When Rome Burns

------- Keywords: operation citadel, cultural disasters, american revolution

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