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No. In the 90s, there was a brief period where the US managed to not have a deficit (ie, it was taking in as much as it was spending). The US has never eliminat
by jimrandomh 11y ago
No. In the 90s, there was a brief period where the US managed to not have a deficit (ie, it was taking in as much as it was spending). The US has never eliminated its debt, nor should it; that would essentially mean withdrawing the US dollar from circulation.
- Scea91 11y agoHow? If they owe you 10 $ and they pay you 10 $ it doesn't seem like the 10 $ got withdrawn. Quite the opposite actually.
- JoshTriplett 11y ago> The US has never eliminated its debt, nor should it; that would essentially mean withdrawing the US dollar from circulation. To the best of my knowledge, the standard debt calculations do not include outstanding currency, though they do include outstanding bonds.
- quinnchr 11y agoActually, for a brief period under Andrew Jackson's presidency we did pay off all our debt.
- AnimalMuppet 11y agoIt would mean withdrawing Treasury bonds, not the dollar.