Harding kept the U.S. out of entangling alliances such as the League of Nations, released his predecessor’s political prisoners, negotiated a separate peace with Germany, and secured the first significant arms control agreement in U.S. history.
Harding was the first President to openly advocate black political, educational, and economic equality in the 20th century.
Harding cut taxes and may be absolutely right response to the 1920-21 US depression. He did next to nothing to quicken the recovery in the conventional sense we know today.
Source: Gene Smiley.
Harding cut the U.S. budget nearly in half between 1920 and 1922. Tax rates were slashed and the national debt was reduced by one-third.
This forgotten depression started in 1920 and was over by the end of 1921. Both the sharpest downturn and the quickest recovery in American history with 12% unemployment in 1920 replaced by full-employment by 1923.
Utopia, you are standing in it! 
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