The always recommended Burt Folsom poses the question “Who was the last president to have a great second term?” and you’ll never guess who – none other than Calvin Coolidge (some might claim his second term wasn’t really that, as his “first term” consisted of serving out his predecessor’s term). As Folsom goes down the list of two-termers since Coolidge, it becomes clear that second terms have a way of being a letdown. While circumstances and events were different in each of those cases, there is little doubt that re-elected presidents usually have an eye on their legacy, which unfortunately often means the creation of projects and programs that saddle future generations with snowballing costs. It is a safe bet that Barack Obama will try to leave a progressive legacy, and not follow the restrained course of Coolidge, but a gridlocked Congress and the lack of a true mandate may mean that his leeway in shaping his legacy turns out to be somewhat constrained. If a costly legacy is what he has in mind, there is hope that his second term will join the list of failed second terms that are a letdown for presidents but a respite for the nation.