Biography On 'Accidental President' Coolidge Highlights 1920's Economic Boom

By John Ostapkovich

PHILADELPHA (CBS) - A Tea Party group's event Sunday will hear the story of a President who promised to cut taxes and spending, and it's not Ronald Reagan.

"Silent" Calvin Coolidge was an accidental president, thrust into the Oval Office in 1923 by the death of Warren Harding.

He had two missions, says Amity Shalaes, author of the nearly 500 page biography Coolidge. One was to clean up the Harding corruption mess, the other was a smaller leaner, federal government.

"He didn't cut the budget relative to inflation or growth or all the other things that we use to qualify such number. He actually cut the budget. In fact, the economy boomed in the 20's. Really, not just champagne bubbles and Gatsby, it actually boomed," says Shalaes.

Coolidge was elected in 1924 with more votes than the Democrats and the Republican-splinter Progressives combined.

For more information visit: www.independencehallteaparty.com.