Jeb Bush Has Announced the Perfect Republican Economic Plan

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Rand Paul says his secret to success is that his tax cut plan will supercharge economic growth. Jeb Bush says his secret to success is that merely by being president he will supercharge economic growth.

I guess I have to give this round to Paul. He at least tried to come up with some math salad to justify his belief that a Rand Paul presidency will bring about economic nirvana. Bush simply declared ex cathedra that he’d make the economy grow at an astonishing 4 percent per year. Why? “It’s a nice round number. It’s double the growth that we are growing at. It’s not just an aspiration. It’s doable.”

Um, OK. He gets points for copping to a sort of amiable idiocy, I suppose. But in case you’re interested, here’s economic growth since the Reagan administration:

Reagan managed 4 percent growth four times in eight years. George H. W. Bush managed it zero times. Bill Clinton did it five times in eight years. George W. Bush did it zero times. Barack Obama has (so far) done it zero times. And no president in history has averaged 4 percent growth over the course of his presidency. No one.1

If you want all the gory details, Matt Yglesias has much more here about just how unlikely this kind of growth is. But politically speaking, the details aren’t what’s interesting. What’s interesting is that Bush’s comment is an unusually clear peek behind the curtain, one that demonstrates how unseriously Republicans take the economy. It’s all just cotton candy for the gullible. Cut taxes on the rich and this will—somehow—supercharge the economy. Slash regulations and this will—somehow—unleash business activity and supercharge the economy. Now Bush has decided to dispense with even the mumbo jumbo explanations. He’s distilled the GOP economic message down to its essence: Elect me president and—merely because I’m a Republican and I say so—I’ll supercharge the economy.

And there’s more. If you assume the economy is going to skyrocket, there’s no need to address niggling concerns about spending or budget deficits. There will be money for everything! And when it doesn’t happen? Oops. Sorry. Next time we’ll get serious for sure. Honest.

1OK, OK, it’s true that FDR did it. How? By starting at the bottom of the worst depression in history and ending with the biggest wartime boom in history. This basically makes the case for just how unlikely this is to ever happen again.

HERE ARE THE FACTS:

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ONE MORE QUICK THING:

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As we wrote over the summer, traffic has been down at Mother Jones and a lot of sites with many people thinking news is less important now that Donald Trump is no longer president. But if you're reading this, you're not one of those people, and we're hoping we can rally support from folks like you who really get why our reporting matters right now. And that's how it's always worked: For 45 years now, a relatively small group of readers (compared to everyone we reach) who pitch in from time to time has allowed Mother Jones to do the type of journalism the moment demands and keep it free for everyone else.

Please pitch in with a donation during our fall fundraising drive if you can. We can't afford to come up short, and there's still a long way to go by November 5.

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