Was the United States ever debt free?

For a brief 2 year period from 1835 to 1837

Andrew Jackson harbored a deep distrust of banks, most notably exemplified by his opposition to the Second Bank of the United States.

Jackson viewed banks as tools of the wealthy elite, corrupting economic and political power. He believed they concentrated too much influence in the hands of a few. His belief led to the controversial removal of federal deposits from the Second Bank, ultimately culminating in its demise.

Jackson's bank skepticism reflected his broader commitment to populism and a more decentralized economic system. His legacy includes the financial crisis of 1837, but also his enduring image as a champion of the "common man" against the perceived excesses of the financial elite.

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