1. Jackson Pays Off Debt, 2. Severe Depression, 3. Ten Fold Increase in National Debt
Posted on | January 23, 2009 | 3 Comments
Be careful what you wish for! Andrew Jackson was the only president in our history to eliminate the national debt while in office. In turn, this caused a severe depression from 1837 to 1844, then a subsequent ten fold increase in the national debt. Maybe we shouldn’t beg for the national debt to be elimated….just reduced.
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January 23rd, 2009 @ 10:47 pm
[...] news by unknown « Bad Credit Mortgage Loans Guide » Blog Archive » Testimony on [...]
January 24th, 2009 @ 2:46 pm
I agree. I don’t think paying the national debt completely off is necessary. Some debt is ok especially if the economy is growing. The amount of debt now and the complete disregard to trying to pay it down concerns me. Enough money has been spent in bailouts. Obama’s so-called stimulus plan is a pork barrel bill that won’t stimulate much of any of the economy, but it will double the national debt in one fell swoop.
January 24th, 2009 @ 3:35 pm
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