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America needs to elect another Harding for president

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posted on Aug, 6 2011 @ 09:11 PM
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Harding's program :

- let whoever has to go bankrupt, bankrupt.
- cut government size by 50%

Federal spending was cut from $6.3 billion in 1920 to $5 billion in 1921 and $3.2 billion in 1922.

- cut taxes by 40%

Federal taxes fell from $6.6 billion in 1920 to $5.5 billion in 1921 and $4 billion in 1922.

- put tariffs on imports (which should be done, screw globalism)
- cut the post-WW1 military industrial complex that owns the government (just like it is today)
- didn't care about reelection

In 1922, the House passed a veterans’ bonus bill 333-70, without saying how the bonuses would be funded. The senate passed it 35-17. Despite intense lobbying from the American Legion, Harding vetoed the bill on September 19 — just six weeks before congressional elections, when presidents generally throw goodies at voters. Harding said it was unfair to add to the burdens of 110 million taxpayers.

This is similar to medicare/medicaid.

The result was a hard depression, but a very short one...

Not-So-Great Depression
On GDP and unemployment :

The estimated gross national product plunged 24 percent from $91.5 billion in 1920 to $69.6 billion in 1921. The number of unemployed people jumped from 2.1 million to 4.9 million.

4.9 million back then was around 8.7% unemployment...

Depression of 1920-1921
Not only that but there was heavy deflation (14.8%), total industrial production fell 30% and the stock market crashed 47%.

But by 1922 :

GNP rebounded to $74.1 billion in 1922

+6.4% GDP in one year.

On unemployment :

The number of unemployed fell to 2.8 million

Or -43% of the unemployment rate in a year.


The unemployment rate continued to decline, reaching an extraordinary low of 1.8 percent in 1926. Since then, the unemployment rate has been lower only once in wartime (1944), and never in peacetime.


The roaring 20s happened...

The Roaring 20s were a time of unprecedented prosperity. GNP expanded year after year without inflation. Productivity improved, and real wages increased. The stock market tripled. There was a dramatic expansion of the middle class. The Great Migration occurred during the 1920s, with some 7 million African-Americans moving north for better schools and job opportunities. Women had the vote. Millions of Americans began to buy cars, originally a luxury of the rich. People bought radios that enabled ordinary people to hear the finest entertainers in their own homes. Movies became popular. Frozen food made possible a more varied diet year-round. Doctors developed new medicines to fight deadly diseases like diphtheria and tuberculosis.


That later led to the 1929 crash, but it could have been avoided if something like Glass-Steagall Act would have been implemented...

Me thinks the US needs someone like Harding... yeah it's gonna be hard to face the welfare class, the we-love-big-government crowd, the banking elite and the military industrial complex but the damn mess is gonna be fixed after that....
edit on 6-8-2011 by Vitchilo because: (no reason given)

edit on 6-8-2011 by Vitchilo because: (no reason given)




posted on Aug, 6 2011 @ 09:37 PM
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Whoever that Harding is... I support him, his simple ideas without long-speech bulls*itting are great and understandable, unlike most of today's politicians.

Originally posted by Vitchilo
- cut the post-WW1 military industrial complex that owns the government (just like it is today)

If I'm not wrong - that's how Kennedy got assasinated right? (never stated officially offcourse)
EDIT: Oh.. Harding was US president hehe i just read that, forgive me I am not a US citizen

edit on 6/8/2011 by Fichorka because: (no reason given)



posted on Aug, 6 2011 @ 09:37 PM
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reply to post by Vitchilo
 
Hmmm.

Kind of sounds like one of our current candidate's platforms...



 
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