Has the American economy always been built on credit?

I recently watched a documentary on the history of credit and its place in the American economy, and it got me thinking about how credit is used today, and how credit has been used throughout American history. Pretty much since the American government was established credit has played a big role in the economic functions. Washington borrowed from the French in the early days to help finance the government. The American government borrowed money from the French, which allowed the economy to grow more rapidly. However, the economy did slow when the government decided to stop using credit to finance functions. The economy recovered by giving credit to businesses and consumers. This pattern of the economy has been repeated multiple times. When the government borrows money the economy grows, and when it stops borrowing it slows. The government is not the only one borrowing money, businesses, and consumers borrow. The economy recovered by giving more credit to businesses and consumers. This pattern of the economy has been repeated from the beginning. The economy recovered by giving more credit to businesses and consumers, and the government took on more debt. America was built on credit. This is why the economy is so strong.