…comes a timely article by Charles C. Johnson on “How Silent Cal beat a Recession”:
Eighty-eight years ago this week, U.S. President Calvin Coolidge took office upon the sudde death of President Warren Harding.Like the current administration, the Harding-Coolidge administration faced a tough recession from 1919-1921. But unlike the current administration, the Harding-Coolidge and Coolidge-Dawes administrations cut taxes, balanced budgets and slashed government spending, reducing federal debt by over a third in a decade.
Has Peggy Noonan been reading my blog? I suppose it’s just an instance of great minds thinking alike (said he, modestly). At any rate, former Reagan speechwriter, author, and columnist Peggy Noonan does make the Coolidge-Daniels link I ventured recently, singling out recent speeches by governors Mitch Daniels and Chris Christie as particularly important and memorable.
We’ll have to wait and see if all this is mere talk with no substance. But I feel the rising popularity of “tough love” governors such as Daniels, Christie, and now apparently Wisconsin’s Walker may be an indication that a sea change in the direction of more austerity is on its way.
Update: Michael Gerson at the Washington Post also discovers a Coolidge-like coolness about Mitch Daniels 🙂