Title: Presidential Debt: Jefferson's Debt Troubles - Consumer Credit
Headings: Presidential Debt: Jefferson’s Debt Troubles
Presidential Debt: Jefferson’s Debt Troubles
Thomas Jefferson & Presidential Debt
Learning From Presidential Debt

Content: Presidential Debt: Jefferson's Debt Troubles - Consumer Credit
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Presidential Debt: Jefferson’s Debt Troubles
February 24, 2014 Posted by Katie Ross
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Our greatest leaders have found themselves drowning in presidential debt including Thomas Jefferson. Let’s learn what went wrong for our third president and why he could not eliminate debt. Thomas Jefferson & Presidential Debt
In this series celebrating Presidents’ Day, we’ll be taking a look at how the nation’s greatest leaders tried to get themselves out of their presidential debt as well as the debt of their personal finances. We’ve saved the best for last – the president who abhorred national debt but could never manage his own debt reduction. Thomas Jefferson, our third president, died with debts of $107,000, which is roughly $2 million today. Jefferson is an unusual case in that the debt wasn’t entirely due to business failures, poor investments, or a shopaholic wife. Jefferson inherited a significant amount of debt from his father-in-law in 1774. He may have been rich in land and slaves, but farming was not a debt solution.