I was reading through a history book once and notice that US debt has only ever been paid off once sense our country was founded 1776. The president who accomplished this feat was Andrew Jackson our 7th president and to put it plain and simple he along with his colleagues didn't like debt. But it didn't work and exactly 2 years later our country would go into a massive depression due to that it ruined the countries credit and left our country on a more agricultural based economy. When Jackson took office in 1829 he would start by selling off Western US government land and wouldn't pass any spending bills during his presidency. With the US 58 million dollars in debt when Jackson took office he successfully paid off everything before his 2nd term ended in 1837.
The amount of money the US has spent on useless projects with other countries like trying to build and train an army for the Afgan military just for 3/4 of them all to run away when the Taliban show up, or gender studies in Iraq where we have no buisness to be and have no say in. I think our country is abusing its power with money and where they spend it. I think there should be rules in place on what we can spend money on and whether it will benefit us. Like Andrew Jackson he felt that debt would be the down fall of our country and that banks and national debt is what would end up controlling our countries future.
I think that if we were to fix the amount of debt our country the best method would be to grow our economy faster than our debt which is benefically for everyone considering we wouldn't have to cut spending bills and we could work more on America's infastructure with roads and bridges. Or the more unpopular opinion would be to raise taxes but if that were to happen within the a month we the next generation would never be able to pay it off. I believe that cutting spending bills that are nonsense and growing our economy even more would be the best for our country and the condition of our debt.
Sources:
https://www.americanbanker.com/news/the-national-debt-is-big-and-getting-bigger-does-it-matter
Could we perform something like what Jackson did and not allow any spending bills?
With the amount of debt the US is currently in is there anyway that it could lower?
Replies
Good topic choice and well done overall Edwin! Be sure t ocomment back on three different days next time.
I think if it was possible and the government wanted to do something like Jackson did they would have already tried it. I feel like these days the government just don't care as long as they get their money. The govenment thinks that making more money is going to get us out of debt but in actuality they are just making our us doller worth less. Maybe they should think about cutting what they spend on things that are not needed and maybe insted of giving themselfs raises they should use the money for something that is actullly good for America.
I think that something definetly needs to be done about the United States debt. I think that their are many good ways that we could fix it but it would take time. I think that we should first look to spend less money and then look to make more money in the United States.
I think paying off the debt that our country, The United States of America, will more than likely not be able to pay off that debt. Doing what Jackson did will not work because the time period we are in now. Maybe the debt could be lowered but that would take either a long time or a lot of cutting on some payment on some things. Or start selling our citizens for money.
I could maybe think of the idea of selling off citizens. People are a resource.
I think it would be nearly impossible to pay off the U.S. debt because of how deep we are around in. Instead of trying to pay it off I think we should eliminate the unimportant ones for example the gender studies in Iraq.
I think that pulling off what Jackson did would be a lot harder today than it was back then mostly because we are in a very great amount of debt now. I think that the best way to help us get out of our debt would be to spend the US money on beneficial things only. That means that we should still help other countries with our money but we should also make sure that it really is for a good cause and will really help us as well.
I don't think that we could pull off something like what Jackson did because he had 58 million dollars of debt and we have 26.70 trillion dollars to pay and back then we were not a world superpower nor did we have many allies. Furthermore, I don't think there is any possible to get rid of 26 trillion dollars since we are spending 4.11 trillion dollars a year and the last two years were bad for the government because they spent a lot of money trying to stop the economy collaspe.
I believe that if could just spend less than what we make our coutnry would be better off and that we might be able to pay off portions of it.
I think it would be impossible to be able to pay off all the debt that the U.S. is in. I don't think it would be possible to do what Jackson did because it's different times now and different policies and things like that going on. Maybe the debt could be lowered but we would have to cut a bunch of things to be able to pay off some debt.
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