While today our federal government doesn’t pass budgets for half a decade, President Coolidge met with his budget director every week with the express purpose of finding places to reduce spending. This allowed him to lower federal expenditures every year of his presidency, despite a Congress flush with tax revenue from a booming economy.
That’s right – government spending decreased and the economy improved. This allowed Coolidge to lower taxes as well, but always with an eye to keeping the budget balanced and paying down debt. His was a fiscal record second to no other U.S. president.
As important as Coolidge’s record on spending and taxes was, it may be another aspect of his terms in the White House that had the most impact.
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