Fill out the brief form below for access to the free report.
Here at the Bush Institute and The 4% Growth Project we have identified 4% annual growth as the primary economic goal for our country. We believe that stronger growth is the single best solution to the many challenges facing our country today. Our message is really starting to resonate. The latest evidence comes from Florida Senator Marco Rubio.
In his nationally-televised response to Tuesday’s State of the Union Address, Rubio highlighted some of the specific benefits that sustained 4% growth would deliver to our country:
"…if we can get the economy to grow at just 4% a year, it would create millions of middle class jobs. And it could reduce our deficits by almost $4 trillion dollars over the next decade."
Rubio then outlined several policy areas that promise faster growth. Many of the topics he highlighted are ones we too have identified as promising for growth. For instance, Rubio talked at some length about the need for tax reform, which was the topic of two major conferences the Bush Institute convened in 2012. In 2013 the Bush Institute will host a conference on energy, regulation, and growth. This was another main theme for Rubio:
"One of the best ways to encourage growth is through our energy industry… let’s reform our energy regulations so that they’re reasonable and based on common sense."
Rubio’s discussion of 4% growth represents the second time in the past month that a major policy leader has referenced the work of the Bush Institute. Texas Senator Ted Cruz also shared several of our “growth facts” (developed by Project fellow Ike Brannon) in a speech on January 26 at the National Review Institute Summit. In that speech, which was broadcast nationally by C-SPAN, Cruz said that “growth” is one of the two most important words this year for Americans. The other important word, according to Cruz, is “opportunity.” These concepts are inextricably linked because strong growth will unleash unprecedented opportunity for our country.
James K. Glassman — founding executive director of the Bush Institute — has stressed that every issue that comes in front of policymakers must be considered with a primary focus on how the policy will affect economic growth. Writing for Forbes.com, Glassman argues:
"…growth must be the focus of all economic policy. Growth lowers unemployment, lowers deficits and debt, raises opportunity. Every policy change should be judged by the question, “Does it increase growth?” If not, forget it."
The recent speeches by Rubio and Cruz suggest that our country’s leaders have embraced 4% growth as the solution to our country’s troubles. It is this kind of laser-like focus on economic growth that our country needs today.
This post was written by Matthew Denhart, research assistant to the 4% Growth Project at the George W. Bush Institute. Previously he served as administrative director of the Center for College Affordability and Productivity.
Matthew Denhart is an expert on immigration policy and is the author of the Bush Institute’s America's Advantage: A Handbook of Vital Immigration and Economic Growth Statistics, now in its third edition. He currently serves as executive director of the Calvin Coolidge Presidential Foundation and is a founder of the Coolidge Scholars Program which provides full-ride merit scholarships to America's most promising college students. A summa cum laude graduate of Ohio University, Denhart has written and spoken widely on a variety of policy topics including the economics of higher education, labor, and taxes. He has contributed articles to numerous national publications including The Wall Street Journal, Forbes.com, CNN Opinion, and Bloomberg View.Full Bio
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.