January 8, 1835. Andrew Jackson had tamed the beast and done the impossible when the National Public Debt hit zero, at the stroke of midnight. Nothing. Nada. Zilch. Debt-free.
The next day it was off again, never to return.
Sixty five million dollars when Lincoln took office; one billion when Picket charged at Gettysburg; 2.7 billion at the last shot of the war in Ford's Theater; 26 billion when Gatsby gazed at that light across the bay; and 43 billion as the Panzers clawed across the Meuse.
When Wally and Beaver trotted off to school - 260 billion; John, Paul, George, and Ringo ... 300 billion USD. One small step for man, one giant leap to 400 billion. Ronald Reagan, uber conservative, one trillion dollars in National Public Debt. George Bush Jr, in - 5 trillion dollars; George Bush Jr, out - 13 trillion Dollars. Barack Obama, in ...
A brief history of the policy of perpetual debt employed by government.
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