There’s only been one day that the USA has been debt free
That day was 8th January 1835. When the US was founded it owed approximately $75 million, due to the war of independence. With the US,’s involvement in the Napoleonic wars that debt rose to $127 million. When Andrew Jackson took over as the seventh president of America, he was determined to get the country out of debt. With business and capitalism booming, money and taxes came flooding in. The 1830’s proved a prosperous time for America. So by the start of 1835 Jackson was able to inform congress that America would be debt free. Unfortunately it didn’t last. With an estimated federal debt of $19 trillion, it’s looking likely that America will never be debt free. But for that one day in 1835, they were completely free.
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