16 Thoughts on Under which president has the U.S. been debt free?
  1. Reply
    Mercer Devil
    August 6, 2011 at 5:18 am

    Andrew Jackson, the guy on the $ 20 bill.

  2. Reply
    Lainey
    August 6, 2011 at 5:55 am

    Washington….??

  3. Reply
    knicksn
    August 6, 2011 at 6:32 am

    Franklin D. Roosevelt because he is the one who help the US to get out of the stock market crash become a super power during World War II.

  4. Reply
    Marvelous
    August 6, 2011 at 7:06 am

    We haven’t been dept free since 1940.

    Clinton was the only one in the past who decreased our national dept since the spending started.

    http://www.brillig.com/debt_clock/faq.html

    http://brillig.com/debt_clock/

  5. Reply
    Thunderrolls
    August 6, 2011 at 7:09 am

    Bill Clinton! Then the Republicans blew it all to a huge deficit.

  6. Reply
    Jackie R
    August 6, 2011 at 7:45 am

    Just recently we have been debt free, that is until bush got in office. Actually under Clinton’s presidency we were debt free. we acctualy had a surpluss of money for a while. But once bush got in Office it all when the down the toilet.

  7. Reply
    David
    August 6, 2011 at 7:49 am

    The United States has NEVER been debt free.
    George Washington sent John Adams to borrow money from France right from the very get-go.

    Under Clinton we had a budget surplus. That doesn’t make us debt-free, it merely means that the government was earning more money in a year than it was spending.

  8. Reply
    Dave C
    August 6, 2011 at 8:01 am

    The US has never been debt free… The US started out with a national debt after the US revolution.

    Edit…
    People are confusing National Debt with the Federal Budget.

    Clinton was the last president to balance the Federal Budget and also had a projected surplus. The National debt still existed.

  9. Reply
    Wayne W
    August 6, 2011 at 8:09 am

    I think people are confusing being debt free with having a budget suplus. We had both during the Clinton administration.

  10. Reply
    jeff m
    August 6, 2011 at 8:32 am

    http://zfacts.com/p/318.html

    The graph here tells you a bit about it. At the end of Carter’s administration, it was low, went up during the Reagan and Bush, down significantly with Clinton, then back up with GW Bush.

  11. Reply
    NYC Independent
    August 6, 2011 at 9:22 am

    When Bill Clinton left office the country did have a national debt as it has had for decades. However, during his administration a good percentage of that debt was paid down on and he balanced the annual budget (with a republican congress) before leaving office and the country entered 2000 with a surplus.

    Clinton presided over the longest period of peace-time economic expansion in American history, which included a balanced budget and a reported federal surplus. Based on Congressional accounting rules, at the end of his presidency Clinton reported a surplus of $ 559 billion.

    http://en.wikipedia.org/wiki/William_J._Clinton

    its the republican economic policies that insist deficits don’t matter.

    Former Treasury Secretary Paul O’Neill was told “deficits don’t matter” when he warned of a looming fiscal crisis.
    O’Neill, fired in a shakeup of Bush’s economic team in December 2002, raised objections to a new round of tax cuts and said the president balked at his more aggressive plan to combat corporate crime after a string of accounting scandals because of opposition from “the corporate crowd,” a key constituency.

    O’Neill said he tried to warn Vice President Dick Cheney that growing budget deficits-expected to top $ 500 billion this fiscal year alone-posed a threat to the economy. Cheney cut him off. “You know, Paul, Reagan proved deficits don’t matter,” he said, according to excerpts.
    http://www.ontheissues.org/2004/Dick_Cheney_Budget_+_Economy.htm

    Deficits Do Matter: Economist Sees More Inflation, Higher Taxes, Less Benefits
    http://finance.yahoo.com/tech-ticker/article/51775/Deficits-Do-Matter-Economist-Sees-More-Inflation-Higher-Taxes-Less-Benefits?tickers=GM,F,FNM,FRE,MERKX,^DJI,^GSPC&comment_start=21

  12. Reply
    lamrim
    August 6, 2011 at 10:04 am

    The United States has had public debt since its inception!!!

  13. Reply
    Roger S
    August 6, 2011 at 10:13 am

    Madison is the only president that ever had a balanced budget. The bs of Clinton was no balance, he left a 5.6 trillion national debt.

  14. Reply
    Mirriam M
    August 6, 2011 at 10:51 am

    Bill Clinton was the most recent. Left us with a surplus in fact. It vanished in three months.

    As Dick Cheney quietly got richer.

  15. Reply
    Ray.Returns
    August 6, 2011 at 11:23 am

    Few years back everyone was talking about Japan and that they were becoming the ”world bankers” They felt the city of Tokyo was worth more than the state of Calif They called Americans stupid and lazy They were so proud they they payed off their national debt It was soon after that that they went in a tailspin that they well never return from So just take it easy

  16. Reply
    emeraldhp
    August 6, 2011 at 11:51 am

    Under Andrew Jackson. He called the world bankers into his office and told them, “you are a den of vipors and thieves, and by the grace of the eternal god I will rout you out.”
    He did and the US became debt free and a period of prosperity ensued. It is still on his tombstone today “I killed the bank, it didn’t kill me.”
    God bless Andrew Jackson and forgive him for his shortcomings, he knew what to do for his country. God help us again, we have the federal reserve arm of the world bank, and we are in trouble, they have us again.

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