President Hoover tried to balance the federal budget by passing the __________, but the plan was shortsighted and accelerated the economic slowdown.

Question

Quizplus · Accepted Answer

The Revenue Act of 1932 was passed under President Hoover to balance the federal budget by increasing taxes, but it was considered shortsighted as it further reduced consumer spending during the Great Depression, worsening the economic slowdown.

President Hoover Tried to Balance the Federal Budget by Passing