Jeb Bush on speeding up America's economy, Part 2
Former FL governor on 'Huckabee'
- Duration 6:44
- Date Jul 29, 2012
Former FL governor on 'Huckabee'
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We're back talking with governor Jeb Bush the George W.
Bush institute -- come out with a book called a 4% solution.
So let me just get right to it what does that mean the 4% solution means if we could grow our economy.
In real terms of 4% per year over a sustained period of time.
That we could begin to solve these would appear to be intractable problems if we if we don't grow at that rate.
Then I think they're going to be a lot of shattered dreams in this country we have to grow for faster than what.
Obama economics it is bringing us and we can do that with a set of policies in this books about that really brilliant people.
Are writing chapters on a variety of different policy areas that combined could create.
The chance that we could.
Achieve an inspirational goal 4% per year over a decade a time -- we've never really sustain that that level of growth so we're talking about you're gonna have to do something very differently.
To get that kind of result.
But what are the things we got to do to make that -- We've have to have fiscal reform entitlement reform government can't be consuming 25% of GDP and expect any kind of high -- solution.
We need a patriotic energy policy based on.
American ingenuity American innovation and North American resources.
We need to bring 24 -- for century solutions to the rule making process it is.
The greatest cloud of uncertainty is just this demanding set -- rules that are confusing for people in burdensome.
We -- transformer education policy.
I happen to think that immigration policy to bring aspiration -- young energetic people.
Would help sustained growth -- so it's a series of things and this.
Book has 22 chapters that -- deal with each one of these areas -- entrepreneurship.
You know you can have a president that's always kind of looking down and saying that the onto the -- are really not that relevant I mean in America they're really relevant I mean without them we would be nothing.
You mentioned immigration which is one of the most divisive issues that we've had in this country divided the Republican Party divides Democrats vs Republican sometimes divides families.
What are some.
Practical sensible doable ways to deal with the immigration issue that really welcomes people.
But that it doesn't make it feel like there's some blanket amnesty going on.
Well and control the border which we've been fighting this fight.
But as though we were ten years ago the border actually have there's been a lot of effort to control the border.
That's part of it a guest worker program that doesn't say to people that you can stay forever but but but for seasonal workers and four.
For jobs that are based on demands of our economy where you can't find workers here that would be part of it.
Giving a -- to anybody that graduates from one of our universities is just absurd that we -- -- send them back to create wealth and prosperity in their countries if they want to stay here.
And that's one of the things I want to interrupt because that's one of the things you talk about in the book is that.
They're really does need to be a policy for the best and brightest the brains on a that we we export brains.
When we ought to be importing brains now so if it and then I I would argue that with our changing demographics world.
Hopefully tenure some value and are going to be ten years older that's a good but -- -- so be a good because the alternative is not very pleasant prize asset.
But so we need to find with our fertility rate being at breakeven.
We need to find young inspirational people to bring energy to our economy as well -- got to rebuild the pyramid and that has to happen through legal immigration.
And so are a total revamping of our immigration.
To protect the rule of law but also to recognize that this is a catalytic converter for sustained growth I think is a key element of this.
You can't -- 4% if your population grows at one.
Education is an area you spent under enormous amount of -- time as governor is something for which you received national accolades.
Let's talk about where does education fit into a 4% solution and how important is it because a lot of people sort of see while that's.
That's not really connected to growing the economy.
It might not be for next month or next year but is essential for the long haul.
When a third of our young people graduate after we spend more per student than any country in the world.
A third of college and or career ready mean that that's -- not gonna cut in a world where knowledge.
Is the driver of higher income.
If we began if we moved to the -- the international average we could create hundreds of billions of of extra.
Economic activity and there's a chapter of the book the describes exactly why that is.
And from that then creates.
You know if you grow the economy you're gonna -- more revenue for government than raising taxes.
Fact raising taxes.
A legitimate case can be made that you're actually -- -- seat lower revenue over the long -- And that's a much better approach.
My personal belief is a -- growth strategy also does something really important which is lifts our spirits -- about you.
-- but I am I'm so tired of the gloomy as some of what used to be the most optimistic -- -- in the world.
And if we could lift people's spirits by showing the way to greater opportunity for more people.
That has benefits to go beyond just the kind of nerdy economic.
Data won here in a lot of talk that at some people say we gotta raise taxes others cut spending beyond -- Jeb I'm not hearing Democrats are Republicans talking about growth.
-- this is a very different topic it's not saying raise taxes cut spending raise taxes cut spending you're saying no both of those.
Our secondary let's grow the economy.
Where you were a breakthrough to political leaders and get and understand that.
That's the real perception -- -- I happen to think that it's winning political.
Imagine if you're running for office and you say follow me I promise you 1% you know growth which means no top creation.
That's -- that's not a winning argument if you have a substantive.
Agenda that says you can grow over the long haul.
Over sustained period of time at a growth rate that's above our historical averages that creates.
Trillions of dollars of economic activity over the long haul and it creates real opportunities I think it's a winning political message so long as it's backed up with -- enough.
Facts and it's not just pollyannish which is why this book offers a blueprint I -- -- like the book because it's the first won't go up five Nobel laureates writing.
Will smarter than me in they have they have tangible things that people can embrace.
And my hope is that Mitt Romney years ago -- doesn't -- Jeff great to see it always a pleasure to visit with you and thanks for a talking about a whole different approach to getting this economy back on track thanks very much god --