The US presidents’ programmes. Warren Harding (1921-1923) and Calvin Coolidge (1923-1928)

W. Harding formulated the principles of economic policies: the country needed an economic recovery - not heroic deeds, but healing, not a revolution, but a restoration, not agitation, but regulation, not surgery, but peace. Reducing the budget deficit, regulating tariffs on imported goods, social stability, policies of disarmament against the background of major corruption scandal - all of this was inherited by Calvin Coolidge, who believed in trusting people, but still verifying their words. It was by this control that Coolidge managed to get over the government crisis. Coolidge was the first US President to use the radio as a mass communication medium. By late 1928, the situation with the federal budget and national debt improved, the middle class, who paid moderate taxes and enjoyed tax credits, thrived. Though the economic growth continued, excessive exuberance was already starting, as there appeared first speculative pyramid schemes. These were the results of 1921-1928.