What Happens with the National Debt
The Political Orphanage
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The Debt to GDP Ratio
So long as the economy is growing faster than the debt, it's what I call the Hamilton ratio. There have only been two years in the entire history of the United States where we did not have a national debt. President Andrew Jackson was repulsed by the Hamiltonian proposition that there are healthy debts and there are healthy deficits. He sold a bunch of federal land and by 1835 he had fully paid off all of America's debts.
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