In a way, Calvin Coolidge is better than Reagan. His tax rates were lower, and he cut budgets.
Amity ShlaesTo investors, job creation is a second-order effect. Market participants care first about interest rates, exchange rates, bond prices and the one great factor that affects all three: the long-term solvency of a bond company called the U.S. government.
Amity ShlaesDisillusionment can come as fast as a gust, but building faith that the government won't inflate again is like building a new sailboat, a project of years.
Amity Shlaes