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Believe it or Not, the U.S. National Debt Was Once $0.00

U.S. Currency
Getty Images, photo by Houlton Archive

It may seem hard to believe but 178 years ago the national debt of the United States of America was $0 and on January 8th, 1835 the announcement was made. This was the last time our countries national debt was $0. It lasted one year. Andrew Jackson was the President at the time and the debt was $58.4 million when he took office. That was a lot of money in the early 1800’s.

It took Jackson 6 years to pay off the debt and announced the country was in the black with $440,000 in the bank.  Today, the national debt is around $16 trillion and it doesn’t look like it’ll be paid off any time too soon.

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