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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

Co-winner of the "Likable Liberal" award who asks, "Can't we all get along?"

1 Corinthians 1:18-24 (CEV)
18 The message about the cross doesn't make any sense to lost people. But for those of us who are being saved, it is God's power at work.

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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:
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?


Sounds like he was ignorant and backward. Probably thought the horse was the only transportation means we would ever need.
And we wound up in the lingest depression in history. Yeah, there was a land bubble that had to burst sometime, but because he had refused to spend on sorely needed infrastructure, because he refused to spend on ANYTHING, that depression went on and on. No jobs, and no way to get to them if there were.

"Jackson had already killed off the national bank (which he hated more than debt). So he couldn't put the money there. He decided to divide the money among the states.

But, according to economic historian John Steele Gordon, the party didn't last for long.

The state banks went a little crazy. They were printing massive amounts of money. The land bubble was out of control.

Andrew Jackson tried to slow everything down by requiring that all government land sales needed to be done with gold or silver. Bad idea.

"It was a huge crash, and the beginning of the longest depression in American history," Gordon says. "It actually lasted six years before the economy began to grow again."
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?


What block grants for Medicare are you speaking of? There are none! Now, if you mean the Republican budget replacement for Medicare starting in 2021, that involves premium support and a health insurance exchange similar to that used by federal employees and congress. For a description of that see: http://www.opm.gov/insure/health.

For the record, I have a federal plan, but pay for all of it. When, I left federal service, I didn't have enough time for a pension, but could keep my insurance, if I paid the entire premium. I pay slightly less than $7,000 for the high end BCBS policy. Federal employees typically pay about 30 percent of the cost.

The amount suggested for premium support is $15,0000. Certainly enough to pay for most insurance packages under the federal plans.

As to block grants, considering the amount of fraud under Medicare, at present, the states couldn't do much worse. I suggest you might mean Medicaid. Haven't studied that under Ryan's plan, yet.
Andrew Jackson's greatest sin was the sell-out of a great US ally -- the Cherokee. They supported the US in the war against the Creeks. The Cherokee's great sin was they successfully competed with the Americans. They had spas in north Georgia the populace traveled to to escape the heat of the summer. The US Supreme Court ruled the move illegal, but he did it anyway. Many US Army officers resigned their commissions in protest.

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