Andrew Jackson loathed public borrowing and quickly eliminated the debt leftover from the War of 1812. The Republicans likewise quickly rid the United States of its Civil War debt. In fact the fervor with which these Civil War debts were retired prompted a British diplomat to write back to England: "The majority of Americans would appear disposed to endure any amount of sacrifice rather than bequeath a portion of their debt to future generations." Thus, Americans in the past were willing to endure deficit spending but once the crisis had passed every effort was made to retire the debt as quickly as possible. WOW
regards
doug
regards
doug