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Growth happens more easily when people believe that government is, and will remain, small. Austerity makes government smaller. Sometimes you have to have austerity first, so that you have trust, and growth can come later. The best move to assure that the U.S. won’t be trapped like Spain or JPMorgan Chase & Co. (JPM) in coming years is to cut the budget now, and lock in a future of lower tax rates with a law passed at the same time as the budget. But to earn the trust, the budget cut -- the emblem of smaller government -- must be prominent. The full text is posted on Bloomberg.com here. This post was written by Amity Shlaes, Director of the 4% Growth Project at the George W. Bush Institute. Find her on Twitter @AmityShlaes.
TARIFFIED: Trade Talk with Matthew Rooney
This week, trade relations between the U.S. and India are continuing to escalate. Earlier this month, the U.S. stopped granting India special trade privileges by taking away the Generalized System of Preferences (GSP) program, and India has responded by enforcing more tariffs of its own. The George W. Bush-SMU Economic Growth Initiative Director Matthew Rooney breaks down the trade conflict: For more information on trade groups and the global economy, visit www.bushcenter.org/scorecard.
How Trade Spreads Holiday Cheer
It is projected that the average American household will spend more than $1,000 during the holidays this year.
Deporting Salvadorans May Lead to Economic Decline
We should think carefully about a policy whose major impacts are likely to be reductions in employment and economic activity here at home, and increased instability and lawlessness along our borders.
Bush Institute's Laura Collins Talks Immigration on Good Morning Texas
Last week, Deputy Director of Economic Growth at the George. W. Bush Institute Laura Collins spoke with Good Morning Texas about immigration myths. During the interview, Collins had the opportunity to set the record straight and address common misconceptions about legal immigrants living in America today. The segment was inspired from facts released earlier this fall by the Bush Institute in the third edition of America's Advantage: A Handbook on Immigration and Economic Growth. Watch the full Good Morning Texas interview here.