George W. and Stimulus

Below is an excerpt from an article concerning a book that has its forward written by George W. Bush called The 4% Solution: Unleashing the Economic Growth America Needs.

“While the causes of the 2008 crisis will be debated by scholars for decades to come, we can all agree that excessive risk-taking by financial institutions, irresponsible decisions by lenders and borrowers, and market-distorting government policies all played a role,” Mr. Bush wrote in the foreword. “The question now is which policies we should adopt to fix the problems, speed the recovery, and lay the foundation for another long, steady expansion.”...
"...At the same time, while warning of the consequences of spiraling federal debt, the book cautions against deficit reduction as an immediate goal, saying tax increases and spending cuts in the short term could strangle growth. “Reducing the debt is critical,” Mr. Glassman wrote in the book’s introduction, “but growth comes first.”..."
Enlisting Economists, Bush Adds Book to Fiscal Debate,  New York Times, July 15, 2012

This needs to be required reading for those on the right. George W. Bush is endorsing a book that says growth comes first before cutting debt and reducing cost. We need a plan to reduce debt; however, the front end of the plan is to spur growth and not cut debt. In other words, stimulate. More


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