Excerpts of the President's News Conference
I am very glad that this question has been asked about tax reduction and debt reduction. I intended at the last conference to be sufficiently specific and think twice I said I wanted a reasonable rate of taxation always, but I did speak of the great importance of paying off our national debt. Now the proper inference to have been drawn would be that I was opposed to extravagance, rather than that I was opposed to tax reduction. [Stenographer's note: quite loud.] I am opposed to extravagance, rather than to tax reduction. I thought some of the members of the press did not quite understand it. I want, of course, the payment of the national debt as quickly as possible together with any reasonable tax reduction that can be made. We have been pursuing that policy for several years successfully and I want to have it continued. So that while I am in favor of debt reduction and also in favor of tax reduction, f expect to accomplish both purposes by also being in favor of constructive economy and scrutinizing with great care all proposals to embark the Government in any new enterprises that are not absolutely necessary. We have to do such things as to take care of floods, whether they occur on the Mississippi Valley or are likely to come down through the White House roof.
PRESS: Has there been any such disaster, Mr. President?
PRESIDENT: I said likely to. Yes, we have sometimes had leaks in the White House roof since I have been there. But I think they have been taken care of now.
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So far as I know, the United States Government is neither favoring nor opposing any particular candidate for the office of President of Nicaragua.
Source: "The Talkative President: The Off-the-Record Press Conferences of Calvin Coolidge". eds. Howard H. Quint & Robert H. Ferrell. The University Massachusetts Press. 1964.
Calvin Coolidge, Excerpts of the President's News Conference Online by Gerhard Peters and John T. Woolley, The American Presidency Project https://www.presidency.ucsb.edu/node/349212