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Herbert Hoover English
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Herbert Hoover
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News and current affairs
The last time an American government tried to ensure a balanced budget in the face of a recession was over seventy years ago, during the presidency of Herbert Hoover at the outset of the Great Depression.
As Herbert Hoover could attest, when we see only the economic policy problems of a generation ago, we risk missing the hazards that lie directly in front of our eyes.
When US President Herbert Hoover tried that recipe, it helped transform the 1929 stock-market crash into the Great Depression.
President Herbert Hoover's failures should be a sanguinary lesson.
Three years into the Great Depression, Herbert Hoover was trounced by Franklin Delano Roosevelt.
US President Herbert Hoover's administration did not initially respond to the depression by emphasizing the need for fiscal austerity.
In fact, more than 2 million jobs have been destroyed - the first time since Herbert Hoover's presidency at the beginning of the Great Depression that there has been a net job loss in the US economy over the term of an entire presidential administration.
In 1930, US President Herbert Hoover and a Republican Congress, enacted the Smoot-Hawley Tariff Act, sending the tariff war into high gear.
A new American president would do well to remember the disastrous consequences of protectionism in the 1920's and 1930's. President Herbert Hoover's failures should be a sanguinary lesson.