The ONLY time this country paid off the national debt was in 1835. Interesting story here:
http://www.npr.org/blogs/money...nd-why-it-didnt-last
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quote:To do that, he took advantage of a huge real-estate bubble that was raging in the Western U.S. The federal government owned a lot of Western land — and Jackson started selling it off.
He was also ruthless on the budget. He blocked every spending bill he could.
"He vetoed, for example, programs to build national highways," Brands says. "He considered these to be unconstitutional in the first place, but bad policy in the second place."
quote:Originally posted by b50m:
And he is how he did it.quote:To do that, he took advantage of a huge real-estate bubble that was raging in the Western U.S. The federal government owned a lot of Western land — and Jackson started selling it off.
He was also ruthless on the budget. He blocked every spending bill he could.
"He vetoed, for example, programs to build national highways," Brands says. "He considered these to be unconstitutional in the first place, but bad policy in the second place."
Not raising taxes and not spending. Sound familiar?
quote:Originally posted by b50m:
Jackson was ignorant and backwards?
quote:Originally posted by O No!:
Oh yeah, and he decided to let the states handle the surplus, which they promptly blew - sort of like what will happen with these "block grants" for Medicare. Do you REALLY trust your state to handle that money wisely?