1835 – A Debt-Free United States

On January 8, 1835, during the administration of President Andrew Jackson, the United States government is officially debt-free. The United States had been in debt since its inception: Debts incurred during the American Revolutionary War and under the Articles of Confederation led to the first yearly reported value of debt at $75,463,476.52 on January 1, 1791.

In the years following 1835, the national debt will grow quickly into the millions again. By March 2008, the national debt will exceed $9 trillion. (Library of Congress)