Title: History of the United States public debt - Wikipedia
Headings: History of the United States public debt
History of the United States public debt
Contents
Early history
1790s
The assumption issue
1790s to 1834
Payment of US national debt
1836 to 1910
World War I and Great Depression
After World War II
2011 credit rating downgrade
Changes in debt by political affiliation
Causes of recent changes in debt
2001 vs. 2009
2001 vs. 2011
2008 vs. 2009
Historical debt levels
Gross federal debt
Publicly held debt
Federal spending, federal debt and GDP
See also
Notes
References
External links

Content: Payment of US national debt
On January 8, 1835, president Andrew Jackson paid off the entire national debt, the only time in U.S. history that has been accomplished. The Panic of 1837 then followed. 1836 to 1910
In 1836 debt began again (the debt on January 1, 1836 was $37,000). Another sharp increase in the debt occurred as a result of the Civil War. The debt was just $65 million in 1860, but passed $1 billion in 1863 and reached $2.7 billion by the end of the war. During the following 47 years, there were 36 surpluses and 11 deficits. During this period 55% of the national debt was paid off. World War I and Great Depression
Debt decreased again during World War I (1914–1918), reaching $25.5 billion at its conclusion. Approximately $17 billion in debt was raised through the selling of Liberty Bonds to the general public to finance the U.S.'s military effort. The war was followed by 11 consecutive surpluses that saw the debt reduced by 36% by the end of the 1920s.