Alexander Hamilton's Assumption Initiative

In 1790, America bailed out bankrupt states in Alexander Hamilton’s “Assumption” initiative. Is Assumption 2.0 around the corner?

Alexander Hamilton was of the Federalist Party--The Federalists, including George Washington, John Adams and Alexander Hamilton, favored a strong central government and a national banking system, masterminded by Hamilton.

The other party at the time was known as the Democratic Republicans who favored decentralized, limited government--They liked the idea of state's rights, less power to the federal government, and a strict interpretation of the Constitution. They believed that Hamilton's Assumption Initiative was unconstitutional.

Read Powdered Wig Society and where this writer believes that the DNC national headquarters should be located.

Political philosophies have change a lot in 200 years but Democrats still believe in liberalism, advocating for social and economic equality, along with the welfare state.