In 1835, President Andrew Jackson successfully paid off the debt of the United States. The only time in history this has ever been accomplished.

Federal debt held by the public as a percentage of gross domestic product, from 1790 to 2013, projected to 2038. The history of the United States public debt started with federal government debt incurred during the American Revolutionary War by the first U.S treasurer, Michael Hillegas, after its formation in 1789. The United States has …

In 1835, President Andrew Jackson successfully paid off the debt of the United States. The only time in history this has ever been accomplished. Read More »