Last 10 Posts
- Herbener on The Tom Woods Show on The Standard of Living September 22, 2017
- Open Societies and Spontaneous Orders by Richard M. Ebeling December 14, 2011
As far as I can tell it is simply not true. While the President is not the only participant in regards to the budget, he certainly has some power. Indeed, there was some big spending under Hoover.
Hoover was President from March 4 of 1929 through the same of 1933. Because the fiscal years during his time in office were July 1 of the previous year to June 30 of the numbered year, the budgets under Hoover are roughly 1930 to 1933. This means that under Hoover there was a 38.49% nominal increase to federal spending and a 77.90% real increase. When compared to the last Coolidge budget of 1929, federal spending was 47.04% higher in nominal terms and 93.42% higher in real terms.
That certainly isn’t a shrinking government.