Andrew Jackson really hated debt. So in 1835, under Jackson's leadership, the U.S. paid off the debt. Here's the story of how it happened ? and why we started borrowing again a year later.
Source: http://www.npr.org/blogs/money/2011/04/15/135423586/when-the-u-s-paid-off-the-entire-national-debt-and-why-it-didnt-last?ft=1&f=1057
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