has the us government ever been debt free
Forecasts about market reactions to debt defaults should be made based on very conservative assumptions. Or better yet, not made at all. The United States government has never defaulted on its obligations to pay its debt. It has never, ever missed a payment. This is one of the reasons that âflights to qualityâ typically involve buying US Treasury debt. Uniquely in the history of sovereign borrowers, the United States has paid when it said it would pay. Not everyone sees history this way.