In January 1925, President Calvin Coolidge, addressed the American Society of Newspaper Editors in Washington. In his remarks, Coolidge said, “the chief business of the American people is business. They are profoundly concerned with producing, buying, selling, investing, and prospering in the world.”

On Tuesday, President Biden returned from vacation to sign the misnamed “Inflation Reduction Act.” He might as well have said in his mischaracterization of the legislation that the chief business of America is now government spending and increased debt.

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Readers may email Cal Thomas at tcaeditors@tribpub.com. Look for Cal Thomas’ new book “America’s Expiration Date: The Fall of Empires and Superpowers and the Future of the United States” (HarperCollins/Zondervan).

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