Friday, July 01, 2011

Advice From Former President Calvin Coolidge onTaxes, Spending and the National Debt

Our nation is currently embroiled in a major debate over the increasing the national debt limit.

Congress at the moment remains deadlocked with Republicans insisting that we reduce the need for debt with major cuts in spending while Democrats insist that we continue spending and finance it with increases in taxes.

At its heart, the debate is really about big government vs small government.

In the video below, we see then President Calvin Coolidge, in 1924 speaking from the White House lawn, on the need for the government to be small and frugal and limit its extractions of money from the labors of its citizens to what is needed for the necessary functions of a small government.

The above video is in the public domain with a Creative Commons License. It is being provided here courtesy of Internet Archive