A Day Without A National Debt

 

 

 

 

 

” On this day in economic and financial history…

  A nation without a debt seems inconceivable today. The United States currently has more than $16 trillion in public debt, and no sensible proposals exist to bring this massive sum down to a more reasonable level. But there was a day when the U.S. proclaimed itself a debt-free nation: Jan. 8, 1835.

  The brand-new United States emerged from the Revolution with some $75 million in war debts, and this sum grew to $127 million after the War of 1812. After these wars, the young nation embarked on a 20-year period of positive cash flow and debt reduction, which picked up steam after the election of President Andrew Jackson in 1828.”

 

Read more about this historic day …

 

 

Further reading:

 

History Of Debt In The United States – Debt.org

178 Years Ago Today We Had A National Debt Of $0

Andrew Jackson – Wikipedia

Bureau Of The Public Debt: Our History

 

 

    Since that historic day in 1835 , the US government has spent an average of $100 million that it did not have , each and every year .