2007-12-26 03:20:10 · 7 answers · asked by Anonymous in Arts & Humanities ➔ History
January 8, 1835 under Andrew Jackson.
2007-12-26 03:36:13 · answer #1 · answered by Louie O 7 · 2⤊ 0⤋
Agent 86 is correct about 1835 being the only time in US history that the US national debt was $0. Why 1835? The sale of lands in the old Northwest Territories, most notably at that time Michigan, Wisconsin & Minnesota, led to the government bringing in millions of dollars and was the cornerstone of a program set forth in the 1820s by James Madison.
Here is a great article on that year's debt:
http://www.business.auburn.edu/~whittdo/THE%20ELIMINATION%20OF%20THE%20NATIONAL%20DEBT%20IN%201835.htm
2007-12-26 12:22:07 · answer #2 · answered by Downriver Dave 5 · 1⤊ 0⤋
The only time that the United States was never in deby was in January 1835 when Andrew Jackson was President.
2007-12-26 12:21:21 · answer #3 · answered by Dave aka Spider Monkey 7 · 1⤊ 0⤋
Probably when King Solomon was sitting on the throne - or maybe it was when Adam and Eve enjoyed the peaceful garden of Eden because they had no debts, no worries and no "human" leadership.
Take care and God bless!
2007-12-26 11:57:49 · answer #4 · answered by Bethany 6 · 1⤊ 0⤋
Most of our history.
The real problem came with FDR's "New Deal." He increased deficits, following Keen's economic theory, and tried to make things work that way. It just doesn't work.
After that point, a number of Presidents did the same thing.
2007-12-26 11:32:43 · answer #5 · answered by Yun 7 · 0⤊ 1⤋
I pick answer # 2. Andrew Jackson.:)
2007-12-26 13:06:18 · answer #6 · answered by gabeymac♥ 5 · 1⤊ 0⤋
Agent 86 is right!
2007-12-27 02:54:07 · answer #7 · answered by Peapie 4 · 1⤊ 0⤋