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There are so many great quotes in this volume that it’s hard to choose the most evocative. Here’s one from Oct. 16, 1974, when Reagan spoke to the American Trucking Association in San Francisco:

“When a business or an individual spends more than it makes, it goes bankrupt. When government does it, it sends you the bill. And when government does it for 40 years, the bill comes in two ways: higher taxes and inflation. Make no mistake about it, inflation is a tax and not by accident.”

As the Obama administration pushes the nation over a fiscal and moral cliff and into a sea of debt, we should not only look back with affection at Ronald Reagan’s philosophy, character and accomplishments. We should use them as a policy guide right now.

Robert Knight is a senior fellow for the American Civil Rights Union and a columnist for The Washington Times. “The Reagan Resolve” will be online at on Monday, Feb. 6.