MarathonMike
Diamond Member
A short but excellent post. I am so tired of hearing people incorrectly writing about economic history, thanks for being spot on and concise!On January 8, 1835, president Andrew Jackson paid off the entire national debt, the only time in U.S. history that has been accomplished. The Panic of 1837 then followed. 1836 to 1910 . In 1836 debt began again (the debt on January 1, 1836 was $37,000).
Clinton had a few years of budget surplus, but the debt was higher when he left office than when he entered it.