Warren Harding actually said...

"Productive labor is staggering under an economic burden too heavy to be borne unless the present vast public expenditures are greatly reduced."

"It is idle to look for stability, or the assurance of social justice, or the security of peace while wasteful and unproductive outlays deprive effort of its just reward and defeat the reasonable expec..."

"The enormous disbursements in the rivalries of armaments manifestly constitute the greater part of the encumbrance upon enterprise and national prosperity; and avoidable or extravagant expense of this..."

"Yet there would seem to be no ground to expect the halting of these increasing outlays unless the Powers most largely concerned find a satisfactory basis for an agreement to effect their limitation."