A History Lesson for President Joe Biden
https://www.realclearpolicy.com/articles/2022/08/09/a_history_lesson_for_president_joe_biden_846901.htmlA nation emerging from a significant pandemic and an economic downturn awaited President Joe Biden in early 2021. President Warren G. Harding inherited a similar situation after winning the 1920 election in a landslide. But Harding overcame it by getting government out of the way. The economy recovered quickly—whereas Biden enacted bad progressive policies that have resulted in a double-dip recession with 40-year high inflation.
Biden should learn from Harding and his successor President Calvin Coolidge to correct government failures and allow markets to heal so that we can enjoy abundant economic prosperity again.
In the aftermath of the Great War, the U.S. suffered a severe economic downturn. The late economist Milton Friedman described this as one of the most “severe on record.” The depression of 1920-1921 is often forgotten because it was short-lived, but it offers policy lessons that can be applied to our current situation.
President Warren G Harding became President following World War I and Spanish Flu Pandemic. He also dealt with Depression of 1920–1921. President Woodrow Wilson expanded the government greatly. President Harding shrunk the government.
