On my desk is a book titled “Grinning With the Gipper.” It’s 117 pages of Ronald Reagan’s humor.Think of that. A US president who could fill a book with jokes. My cursory review shows that about 60 percent of the jokes are on Reagan himself. And another 20 percent are on Republicans. Ronald Reagan knew that life is too short and too precious to waste it on anger and pride. Better to spend your days getting laughs.

Scroll for Updates Ronald Reagan and Jack Kemp wanted to index everything, especially Treasury notes and taxes. By “indexing,” we mean tying rates (interest and tax) to the inflation rate. Calls for indexing subsided after Reagan and Volcker did what Ford and Carter could not: whip inflation now. With a $2 trillion deficit this year and multi-trillion deficits projected as far as the eye can see, inflation will return to ravage the American consumer.