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Clown World Memes part Duex

kyredneck

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  • The X post references Andrew Jackson, U.S. President from 1829 to 1837, whose administration paid off the national debt in 1835, the only time in U.S. history, largely through tariffs on imports which generated significant federal revenue.
  • Tariffs under Jackson, like the Tariff of 1828, were controversial, sparking the Nullification Crisis as Southern states opposed high rates that hurt their cotton exports, while the revenue helped fund debt reduction and infrastructure.
  • The post connects Jackson’s tariff-driven debt elimination to Trump’s 2025 tariff plans, which the Penn Wharton Budget Model projects could raise $4.5 trillion over 10 years but may reduce GDP by 8% and wages by 7%, impacting middle-income households with a $58,000 lifetime loss.
 

777

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