On the recordOctober 15, 1931
There is only one course of sound fiscal policy, and that is to reduce the expenditure of the Government to the last cent consonant with the obligations of the Government.
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presidency.ucsb.eduHerbert Hoover: “There is only one course of sound fiscal policy, and that is to reduce the expenditure of the Government to the last…”
Editor's note · Context
Statement on Government Expenditures.
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