Just finished reading the book by Amity Schlaes. Very interesting & a good read.
Grew up on a hardscrabble Vermont farm in the late 1800's. Not unusual as the majority of the US population was living on the farm. Family was political, Dad was a VT state senator. Good read while somewhat detailed on occasion. Will not say what was in the book though there was one glaring error, which you will have to find on your own.
He did manage to bring the national debt under 20 Billion$ with a budget just over 3 billion$ :cool:. I won't describe what I took from the book until others who choose to do so have read it & are prepared to discuss his legacy.
Haven't read the book but do know he became President in 1920, during what is probably the worst economic downturn in this country's history. GDP drop greater than 30%. Unemployment over 30%. What did he do? He cut the Fed. Budget from over 6 billion/year to just a little over 3 billion. Not just a decrease in the GROWTH of gov. spending but REAL cuts in spending. He lowerred the marginal income tax rate from 75% to 25%. What was the result, probably the greatest economic upturn in the country's history. Didn't take almost 15 years of FDR's economic policy to change the economics of the country under his policies..
Originally Posted by Marvin S
Coolidge might approve of these changes?
1. No Tenure / No Pension.
A Congressman/woman collects a salary while in office and receives no pay
when they're out of office.
2. Congress (past, present & future) participates in Social Security.
All funds in the Congressional retirement fund move to the Social Security
system immediately. All future funds flow into the Social Security system,
and Congress participates with the American people.
It may not be used for any other purpose.
3. Congress can purchase their own retirement plan,
just as all Americans do.
4. Congress will no longer vote themselves a pay raise.
Congressional pay will rise by the lower of CPI or 3%.
5. Congress loses their current health care system and participates
in the same health care system as the American people.
6. Congress must equally abide by all laws they impose on the American people.
7. All contracts with past and present Congressmen/women are void effective 1/1/2014.
The American people did not make this contract with Congressmen/women.
Congress made all these contracts for themselves.
Serving in Congress is an honor, not a career.
The Founding Fathers envisioned citizen legislators,
so ours should serve their term(s), then go home and back to work.
This is from an email I found when cleaning out my mailbox ... no source given ... but it still makes some sense.