Actually the US had been in deficit mode since just after the civil war. The last president to have 0 national debt was Andrew Jackson in the 1820s. Herber Hoover and FDR really kicked it into gear after Calvin Coolidge had cut taxes, responsibly cut budgets (and as a result Coolidge saw record revenues.) After FDR and WW2 there was really no going back, not even Reagan, who did try in some aspects. Either way America has some painful belt tightening to do in the near future.
Kaizer66 over 8 years ago
Reagan? Really? Boy oh boy are you myoptic. CBO records reflect that this current POTUS has incurred more debt than all of his predecessors combined.
zachary.stucki over 8 years ago
Actually the US had been in deficit mode since just after the civil war. The last president to have 0 national debt was Andrew Jackson in the 1820s. Herber Hoover and FDR really kicked it into gear after Calvin Coolidge had cut taxes, responsibly cut budgets (and as a result Coolidge saw record revenues.) After FDR and WW2 there was really no going back, not even Reagan, who did try in some aspects. Either way America has some painful belt tightening to do in the near future.