Combined with other pro-market reforms and his stalwart willingness to rein in inflation, as well as the fact that his policies led to the collapse of the evil Soviet Empire, I don’t think it’s an exaggeration that Reagan saved America.
That being said, he may not be the greatest president of the 20th century.
I’ve already shared a famous Calvin Coolidge video to show he said the right things. But, even more important, he did the right things.
Here’s some of what Amity Shlaes wrote about Coolidge for today’s Wall Street Journal.
…while Reagan inspired and cut taxes, he did not reduce the deficit. He did not even cut the budget. But if you look back, past Dwight Eisenhower and around the curve of history, you can find a Republican who did all those things: Calvin Coolidge. …The 30th president cut the top income-tax rate to 25% (lower than the 28% of the historic Reagan cut of 1986). Coolidge reduced the national debt and balanced the budget. When he departed the White House for his home in Northampton, Mass., he left a federal budget smaller than the one he found. …”I am for economy, and after that I am for more economy,” Coolidge told voters… The jovial Harding had vetoed only six bills. Coolidge vetoed 50. “It is much more important to kill bad bills than to pass good ones,” Coolidge once advised his father.
That last sentence should be repeated as often as possible. Indeed, it’s the reason why I mocked USA Today for calling Congress unproductive.
Today, at 11:20 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for September 17th, 2014 | John Ransom
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Today, at 11:20 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for September 15th, 2014 | John Ransom