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“Coolidge” author Amity Shlaes on how the former president reduced the government budget during his time in the White House.
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Joining us now I'm delighted to say is and obviously she's the author of this fantastic new book Coolidge.
In director of the 4% growth from bush institute.
Of the book you've only added -- -- -- -- for rates at congressional -- thank you.
Let's start with -- let's start with why Coolidge for crying out loud obviously the right judgment in the right book of the right author but.
Why.
Well Lou tonight you -- talking about how presidents can't cut budgets.
Coolidge was a president who cut the budget.
That you look at his record in the presidency 66 or 67 months when he left the budget was lower than when he came men.
Today we think that's not possible with it.
Is that real.
It was real an.
And -- -- -- Coolidge.
In gears into view and after write this book.
What is it that.
-- making it a bestseller what's so compelling -- Coolidge it was sort of always dismissed in my history courses.
Well he did it today we know our economics are broken we're not sure that economic -- really makes sense.
Coolidge represents pre war pre World War II economic and there are some virtue in -- economic so he's the personification.
Of the idea for example that austerity on the government's part can lead to growth in the private sector.
Our politicians don't believe that now but it -- -- have a politician.
It's democratic politicians don't.
Republicans absolutely do some Republican well.
The intelligent ones yeah and the and the fact is that this president does the one who doesn't believe that we have a spending problem is -- a -- he dismisses.
A balanced budget how do you react to back the senate -- finally moving forward with a budget proposal like the four year.
Other kind of a lack of awareness of the consequences and includes did have an awareness you know he knew that inflation or trouble could com.
He knew at that time the US wasn't necessarily king of the world and Britain might be right.
So they had -- awareness of the needs to suggest that right -- awareness of the need to budget and that for a long term the US should budget.
What kind of -- decide.
There we can have on limited government expansive and intrusive government.
Based on borrowing trillions of dollars.
In perpetuity.
And that that will be a healthy.
-- healthy process toward achieving national investment what kind of an idiot thinks.
Well very short term idiots because they say well the stock market is up today it is.
But the shortfalls in the budget that have to do with entitlements are still there for our children and grandchildren.
So we need some longer term thinkers and that's you know what and what we're looking for -- right.
Well this.
-- that's helpful in part.
When I think.
We're looking forward here are thinkers who got lucky when they think having -- collect sufficient to the cause -- to the challenges.
Not -- we've got a bunch of those folks are you.
I I have a lot of big the American people and then the policy or about the people -- -- -- -- -- I ask -- a big question with only twenty -- okay.
Sometimes -- politicians -- -- that the people figured -- -- the -- I hope you're right and I opened and a and it excellence the book this -- congratulations thanks for being here -- thank you and thank you.
