[rollo tomasi]

"...since Eisenhower"

Since Jackson, although debt that can be manage is not a liability, the key word is manage though. Debt whore is when you become irresponsible (Especially in times when total war was not a necessity) with spending/Administrative growth and compared to revenue/liberty.

On topic and in Nixon's case, he was a debt whore and huge government guy that introduced China onto the international scene without imposing limits on imports. The country grew enough to become MFN due to Nixon's red carpet policies. Ignored Bretton Woods and the OPEC Masters (At that time). Moved the goal post to Ike for some strange reason.

[unclebankster]

“Moved the goal post to Ike for some strange reason.”

Not any stranger than moving the goalposts back to Andrew Jackson.

The last time any Congress tried to pay down the debt were the Congresses from 1920-1930. 11 straight budget surpluses and they cut 1/3 off the National debt, much of it incurred because of WW1. Those legislators were the “opposite of debt whores.” The American people didn’t give rip about them either. FDR won 4 straight elections starting in 1932, so much for “fiscal restraint.”

It doesn’t matter if you have a central bank, independent treasury department, or the Federal Reserve System.
Financiers can operate successfully in the all three systems.