The 4% Growth Project was launched by the Bush Institute in 2011 with the goal of achieving sustainable and real GDP growth of four percent, an attainable level that will ensure Americans of better jobs, lower debt, and vastly increased opportunity and prosperity. Through this conference and other events, the 4% Growth Project will identify changes in government policy and business practices that will produce higher growth and advocate those changes to policy makers and the public. The aim of this conference, as well, is to change the economic conversation in America so that it focuses on growth and what causes it.
With speakers such as Steve Forbes, Paul Gigot, Paul Ryan, Amity Shlaes, John Stossel, and Lawrence Kudlow – I’m not wasting my time either. But let’s recall how well the economy grew during the Administration of George W. Bush over its first seven years (with 2008 being the advent of the Great Recession) – an average annual growth rate less than 2.4%. Now we did have this crowd in power from 1981 to 1992 when the economy grew at an amazing 3% per year. I guess they believe the third time will be the charm?
I am all for changing the economic conversation to focus on growth, but that list of speakers doesn't give this even much credibility.
ReplyDeleteI also would imagine ideas like open immigration are completely off the table.
I have wondered why the Bush 2 era had such low growth both of output and jobs--despite two wars, massive tax cuts, and a speculative housing boom. A major source of the problem seems to have been the unusually high ratio of the trade deficit to GDP, a max in 2006. Are there other explanations?
ReplyDelete