February 28, 2013

Harold Meyerson’s Feb. 27 op-ed column, “The perils of austerity,” claimed that President Herbert Hoover cut spending. Hoover actually increased nominal spending by 48 percent in just four years. When he took office, the federal budget was $3.1 billion. His last budget, fiscal 1933, was $4.6 billion. Since there was roughly 10 percent annual deflation during that time, Hoover doubled federal spending in real terms. Even inside the Beltway, that does not qualify as a cut, let alone austerity. Mr. Meyerson should look elsewhere for arguments against sequestration.

Ryan Young, Washington

The writer is a fellow at the Competitive Enterprise Institute.