Wednesday, February 4, 2015

Jeb Bush and his plans for deficit spending

"If a law or a rule doesn’t contribute to growth, why do it?" asked Bush. "If a law subtracts from growth, why are we discussing it? And for what it’s worth, I don’t think the U.S. should settle for anything less than 4 percent growth a year–which is about twice our current average."
It's also about twice the average growth achieved in the presidencies of Bush's father and brother. George H.W. Bush's single term, which an ill-timed recession played a big part in ending, saw average GDP growth of 2.1 percent. George W. Bush's two terms, which began with a terrorist attack and ended in the subprime crisis, saw average growth of 1.6 percent.
Barack Obama's terms, which started in the muck of that crisis, are unlikely to see an average GDP growth of 4 percent. The youngest Bush's math today started the clock a year ago; over the last six months, average GDP growth has actually surpassed 4 percent, averaging 4.8 percent.

The two Bushes, so far, perform badly on the rule.   The rule in this case is do not elect another Bush.

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