Eisenhower administration. The worst was the Recession of 1957-58. Only our recession,
fifty years later, was worse. I am complaining of Obama's budget cutting, etc. See my
column. Here is a quote about Eisenhower's ill advised budget cutting. The cuts, similar
to Obama's cuts of today, were restored too late. See quote:
Read more: http://www.presidentprofiles.com/Grant- ... z32H0KgaBw"Eisenhower was the first president who was constitutionally limited to two terms under the Twenty-second Amendment. Thus, he took office as an official lame duck. Conventional wisdom is that other leaders will take such an official less seriously, on the assumption they can wait him out rather than reach accommodations with him in order to bring about policy outcomes. Resolving to turn his status as a president who could not run again to his purposes, Eisenhower made it clear that precisely because he did not have to think about reelection, he would feel free to take politically unpopular or unconventional actions."
"He began the first session of the Eighty-fifth Congress with an unconventional action, one that, like much that occurs in politics, had unanticipated effects. The budget he was presenting to Congress had been shaped in the latter part of 1956, when he was unable to concentrate single-mindedly on making certain that proposed expenditures were kept to a minimum. Wanting to make clear that budgets of the magnitude of his 1957 recommendation for the 1958 fiscal year should not be viewed as a precedent and evidently also interested in cutting back from his present requests, he took the unprecedented step of having his treasury secretary, George Humphrey, release a statement stressing the importance of holding down spending on the same day the budget went to Congress."
"Humphrey's statement was carefully worded so that it did not contradict Eisenhower by criticizing the present budget request, but in the final minutes of the press conference that followed his statement, Humphrey made headlines by using the colorful phrase "a depression that will curl your hair" to refer to the likely consequence of continued large budgets. The press and, more provocatively, Democrats smarting from the recent election defeat took Humphrey's statement to be a revolt against Eisenhower's message of the same day. In subsequent months Humphrey's statement was frequently mentioned by budget-cutting congressmen, who in particular attacked the foreign-aid and overseas-information programs that were central to Eisenhower's program but politically vulnerable. Most of the proposed cuts were restored, but only after special messages to Congress on Eisenhower's part..."