Which U.S. President paid off the entire national debt? – 2017

Which U.S. President paid off the entire national debt?

On Jan. 8, 1835, all the big political names in Washington gathered to celebrate what President Andrew Jackson had just accomplished. A senator rose to make the big announcement: “Gentlemen … the national debt … is PAID.” That was the one time in U.S. history when the country was debt free.

Andrew Jackson

Andrew Jackson was the only president to actually pay off the national debt. On Jan. 8, 1835, all the big political names in Washington gathered to celebrate what President Andrew Jackson had just accomplished. A senator rose to make the big announcement: “Gentlemen … the national debt … is PAID.”
That was the one time in U.S. history when the country was debt free. It lasted exactly one year. Many people get confused and believe that there is no national debt when there is a surplus in the budget. The last president to balance the budget and regain a surplus of revenue was Bill Clinton. However, Jackson was the last — and only — president to bring the national debt to zero on top of having a balanced budget.
andrew

Andrew Jackson (March 15, 1767 – June 8, 1845) was an American soldier and statesman who served as the seventh President of the United States from 1829 to 1837 and is considered the founder of the Democratic Party.[1] He was born near the end of the colonial era, somewhere near the then-unmarked border between North and South Carolina, into a recently immigrated Scots-Irish farming family of relatively modest means.

During the American Revolutionary War, Jackson, whose family supported the revolutionary cause, acted as a courier. At age 13, he was captured and mistreated by the British army. He later became a lawyer. He was also elected to Congressional office, first to the U.S. House of Representatives and twice to the U.S. Senate.

Related posts:

Leave a Reply