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Kitchen Table Kibitzing 1/8/25: Zeroing Out [1]
['This Content Is Not Subject To Review Daily Kos Staff Prior To Publication.']
Date: 2025-01-08
Everybody talks about the national debt as a crisis but what would happen if we paid it off? 190 years ago today we did exactly that.
On January 8, 1835, president Andrew Jackson paid off the entire national debt, the only time in U.S. history that has been accomplished.[14][15] However, this and other factors, such as the government giving surplus money to state banks, soon led to the Panic of 1837, in which the government had to resume borrowing money.
It was definitely a panic.
That’s one way to make eggs cheaper.
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