There was actually a time when America was actually debt-free, under Andrew Jackson. This NPR story is quite short, and very interesting to listen to.

http://www.npr.org/blogs/thetwo-way/2011/04/15/135433844/irs-chief-lays-out-vision-for-agencys-future

This is a lie.

US has not been 'debt' free since the first budget. They just 'tabulated' things differant back in the day...

Still had a 'deficit'...

Sort of suggests that Governments can't operate without debt, doesn't it?

What does this mean?

It means they counted with there fingers and toes instead of with calculators or computers!

well, technically a debt is merely an amount owed to someone

from the time it is contracted to the time it is paid, it is a debt, and I doubt any of us can live without some of that at all times , UNLESS we are living homeless and off the grids,,,,


the credit card bills are debts, the utility bills are debts, they can become past due but even before that time they are considered technically a debt


same with our budget, we have stuff to pay, its called debt until the time that it is paid, but there isnt a time when there is absolutely nothing that is needing to be paid


now a deficit, the amount we are short between what we owe and what we HAVE,,,,is another measure altogether

I think Our Government was out of debt under our last prime minister, but the new one has us back in debt. I'm not sure how much I like her as she seem to tell a few whoppers. and really people who cant be honest should not run for parlament.. Honestly they should have to stick to what they promise, without there is some world catastophy.
How can anyone expect people to be honorable if our own countries leaders arnt