They are hated by historians, political scientists, and government subsidized economists. Presidents Warren Harding and Calvin Coolidge cut federal government spending. Check out the table down below. The Keynesian economists and the tenured socialist professors can't much explain the table down below of federal government receipts and outlays.
SUMMARY OF RECEIPTS, OUTLAYS, AND SURPLUSES OR DEFICITS( in millions)
Year Receipts Outlays Surplus
1920 6,648 6,358 291
1921 5,571 5,062 509
1922 4,026 3,289 736
1923 3,853 3,140 713
1924 3,871 2,908 963
1925 3,641 2,924 717
1926 3,795 2,930 865
1927 4,013 2,827 1,155
1928 3,900 2,961 939
That's right, the highly "unprogressive" Warren Harding cut the federal budget 48% from 1920 to 1922 leading to a booming economy. When Harding started his budget cutting ,America was in depression. President Coolidge continued the fiscal prudence. Coolidge's 1928 budget was smaller than the 1922 budget , the year Harding died! Nine years in row of budget surpluses . No comment on any this from the "historically" challenged Paul Krugman.
Link to Keynesian 2009 budget: http://www.gpoaccess.gov/usbudget/fy09/pdf/hist.pdf
Link to the "Forgotten Depression of 1920" http://mises.org/daily/3788
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