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ThePreciseClimber t1_iy7z7lo wrote

Andrew Jackson, come back!

−11

windchaser__ t1_iy8j9n5 wrote

Ah, Andrew Jackson, the Trump of the 1800s

Gimme some more of that good ol' Trail of Tears

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ThePreciseClimber t1_iy8tvxg wrote

Considering he was the only president in the history of the USA to get the national debt to zero, I'd say he was pretty good with money.

−3

czar_el t1_iy9hbzm wrote

Yeah, and the result of that, the slashed spending, and his war on the central bank was one of the worst US recessions up till that point. Governments are not household, and don't follow the same simplistic debt=bad frame.

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windchaser__ t1_iy8vvqz wrote

It's not really important that the national debt get to zero. It's not even ideal. If, as a president, that's what you're focused on, then you're focused on the wrong things. Debt is a very, very useful tool for growth.

Like, consider the Louisiana Purchase, the purchase of most of the Midwest US and Louisiana from the French. This was funded by debt. Was this a good investment? Abso-fuckin-lutely.

Anyone good with money is going to focus more on the quality of the investment overall, not just whether it is funded by debt or not. The debt just becomes part of the calculation.

A note: debt is a bit more dangerous for government when you're on a hard currency standard, compared to today, when US debt is denominated in US-gov't-issued dollars. But even on a gold standard, that doesn't mean you should always strive for zero debt, any more than a large corporation should.

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I_Miss_Lenny t1_iya9ys1 wrote

Oh yeah let's bring back Mr "Indian Removal Act", that'll be good

/s

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Fenrunner t1_iy83gmq wrote

Ill pass, i got enough native blood in me to know where that goes. Good ideas on money though, ill give you that.

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