Herbert Hoover actually said...

The hope of tax reduction lies in large degree in our ability to economize on the military and naval expenditure and still maintain adequate defense.

Statement on Military Expenditures.

07/22/1929

More Herbert Hoover Quotes

This is no time to increase the tax burden of the country.

I do not wish to be misunderstood.

I do not believe that just criticism or opposition should arise to such suggestions upon full understanding of the situation.

I wish for Your Excellency a pleasant voyage and prosperity manyfold in the administration of your high office, in which I am joined by Mrs....