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The Last Time America was Debt-Free, Andrew Jackson was President

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"We must pay down the national debt! Debt will be the downfall of the Republic! Wait, we've been in debt for the better part of 200 years? Oh. Um..."

Yes, the last time the United States was debt-free, Washington's bold-faced names gathered to celebrate the incredible feat President Ronald Reagan Bill Clinton George Bush George W. Bush John F. Kennedy Richard Nixon Dwight Eisenhower Lyndon Johnson Richard Nixon Jimmy Carter Harry Truman Gerald Ford Andrew Jackson had managed to pull off:

A senator rose and announced, "Gentlemen....the national debt.... is PAID."

Listen to the story -- and why being debt-free didn't last -- here:

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