Final answer:
Herbert Hoover opposed deficit spending because of his traditional fiscal beliefs in balanced budgets, fears of a powerful central government, and adherence to the gold standard. His policies were based on a belief in individualism and a conviction that the economy would self-correct as part of the business cycle, which contributed to his loss in the 1932 presidential election.
Step-by-step explanation:
Herbert Hoover opposed deficit spending because he maintained traditional fiscal beliefs, including the importance of a balanced budget to ensure a strong dollar and public confidence in government operations. Hoover was wary of creating a large, powerful central government which he equated with a step towards tyranny. He and his economic advisors believed that economic fluctuations were simply part of the business cycle and should be endured. They viewed intentional inflation and raising money through selling government bonds for public works as heretical moves that would undermine economic integrity.
Hoover's approach consisted of expanding public works programs and cutting taxes, yet he refrained from direct relief to individuals to avoid dependency and corruption. He believed in individualism and minimal government intervention, principles that ultimately made it difficult for him to adopt more direct and aggressive measures to combat the economic downturn during the Great Depression. Despite these efforts, the economy continued to decline, leading to his loss in the presidential election of 1932 as voters sought more direct intervention in the form of relief programs.