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Fiscal conservatism (view source)
Revision as of 04:54, September 14, 2020
, 04:54, September 14, 2020→Early 20th century: wiki
===Early 20th century===
===Early 20th century===
During the 1920s, President [[Calvin Coolidge]] and his Treasury Secretary [[Andrew Mellon]] cut taxes and spending, and reduced the national debt. Their pro-business economic policy were credited for the successful period of economic growth known as the "Roaring Twenties." After the great crash of 1929, however, Coolidge's successor [[Herbert Hoover]] took the blame. Hoover increased spending and increased taxes, but because of falling revenues the national debt mushroomed relative to GDP.<ref>William J. Barber, ''From New Era to New Deal: Herbert Hoover, the economists, and American economic policy.'' (1985)
During the 1920s, President [[Calvin Coolidge]] and his Treasury Secretary [[Andrew Mellon]] cut taxes and spending, and reduced the national debt. Their pro-business economic policy were credited for the successful period of economic growth known as the "[[Roaring Twenties]]." After the great crash of 1929, however, Coolidge's successor [[Herbert Hoover]] took the blame. Hoover increased spending and increased taxes, but because of falling revenues the national debt mushroomed relative to GDP.<ref>William J. Barber, ''From New Era to New Deal: Herbert Hoover, the economists, and American economic policy.'' (1985)
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===New Deal===
===New Deal===