Calvin Coolidge was president from 1923 until 1929. He left office with a smaller budget than when he began. His secret was a budget. He met with his budget committee almost weekly during his entire term. During that budget cutting era America enjoyed jobs growth and economic expansion. Coolidge was known as the ‘No’ president. Sometimes ‘no’ is the right answer. Parents say no to their children, congress should say no to constituents.
Coolidge also recognized a phenomenon that would later be illustrated in the Laffer Curve, a representation of the elasticity of tax rates. Coolidge said, “Experience does not… Continue reading