The economy, explained, with stories and surprises. Imagine you could call up a friend and say, "Meet me at the bar and tell me what's going on with the economy." Now imagine that's actually a fun evening. That's what we're going for at <em>Planet Money</em>. People seem to like it.
August 7th, 2012
Episode 502 of 974 episodes
On Jan. 8, 1835, all the big political names in Washington gathered to celebrate what President Andrew Jackson had just accomplished. A senator rose to make the big announcement: "Gentlemen ... the national debt ... is PAID."That was the one time in U.S. history when the country was debt free. It lasted exactly one year.On today's Planet Money: The legend of the national debt. Where the debt came from, what happened the one time we paid it all off, and why Congress created the debt ceiling in the first place.This episode originally aired on May 13, 2011.