Is cutting spending like repeating Herbert Hoover’s errors? No, and saying it again and again doesn’t make it true. The big-spending Hoover did more to intervene in the peacetime economy than any prior president. Indeed, he set in motion all of the things that FDR later did in the New Deal.
Source link: http://archive.mises.org/16617/is-budget-austerity-modern-day-hooverism/