WWI had just ended and Americans nationwide were looking forward to peace and security, remaining hopeful for the future. President Wilson was in office from the years 1913 to 1921. Receipts for spending were drastically different from the beginning of his term to the end. In 1913, receipts, which are taxes brought into the United States Treasury, were at $714 million and continuously rose over the years, ending at $6,649 million in 1920. Outlays, an expense, began at $715 million in 1913 and ended at an astounding $6,358 million. This meant that there was a 789% increase in spending from 1913 to 1920. Prior to The Great Depression, the United States government had no fiscal policy in place. J. Bradford De Long (1998) explains, “The government did not attempt to tune its deficit or surplus to achieve the goal of full employment or low inflation. This is not to say that the federal budget was typically in balance.” (p. 67). During wartime, the federal government would borrow extremely large sums of money, leaving post-war (prior to World War II) ending with total federal debt equaling only a fraction of a year’s national product. Fiscal policy prior to The Great Depression was to just borrow what was available. Due to having no fiscal policy, unemployment was 11.7% and inflation was at 17%. Aside from that, the United States Revenue Act of 1913, otherwise known as the Tariff Act was signed into law by President…