Flashback: When Cutting Government Spending and Taxes Produced Economic Growth and a Budget Surplus 9 Years in row

From: News Alert

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 Outlays Receipts 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 48.7% 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 1923 budget , the year he took office! Nine years in row of budget surpluses . No comment on any this from the "historically" challenged Paul Krugman.