I disagree; the 1950s were a great time for Americans because much of the developed world had to rebuild after WWII while our manufacturing infrastructure was intact (so we could sell to just about anybody). On top of that, millions of returning servicemen could get higher education through the GI Bill, so they could move beyond farm and factory work into white-collar jobs. As the rest of the developed world got on its feet and competition increased globally, that anomaly was adjusting itself - and we didn’t want to hear that.
In 1947, 1948, 1951, 1956, and 1957 saw annual surpluses. All other years saw deficits. Debt has always been the norm as politicians promise money from the treasury for votes. Both Republicans and Democraps do it equally.