The Forgotten Depression of 1920: The Power of Limited Government
Length: 6 Minutes 35 Seconds
The Great Depression was not so great in comparison to The Forgotten Depression of 1920. The solution to this depression was not the government. There were no bailouts, no stimulus and no tax increases.
In fact, it was quite the opposite. Presidents Warren Harding and Calvin Coolidge slashed the budget and lowered taxes for all. What prompted this? Woodrow Wilson’s progressive agenda of control, spend, tax and regulate. Wilson gave us unemployment, debt and more overreaching centralized power. However, it only took 1 year to escape Wilson’s disaster. The solution… free enterprise and limited government. The result… the Roaring Twenties.
Where did the Roaring success go? Dictatorial progressives Hoover and FDR brought us right back to Wilson’s disaster with taxes, regulation, and the dictatorial New Deal, which only prolonged the Great Depression and sets us back even today.
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