Since Jeb Bush’s presidential announcement, he has been promising 4 percent economic growth rate in America if he takes office in 2016. Both liberal and conservative economists are looking past the rhetoric and agree that this plan is highly ambitious and unrealistic.
According to the Bush ad, while people are accepting the “new normal” as 2 percent growth, Jeb adamantly promotes his economic vision of “4 percent growth as far as the eye can see.”
Jeb’s economic plan promises a minimum of 19 million jobs will be created over the span of eight years. To put the numbers into some perspective, over the last 40 years, the American economy has grown at an average of 2.8 percent per year. That’s not bad – but it is much slower than the 3.7 percent growth average in the few decades following WWII – the nation’s most prosperous growth period in its history.
Jeb is Sticking to the Script
But Jeb Bush says he is not going to slow his roll just because “the left, led by Hillary Clinton and some liberal economists said it couldn’t be done.”
Jeb’s biggest defense of his ambitious economic plan is his record. “I know we can fix it,” he often says. “Because I’ve done it.”
While Florida saw economic growth during his time as governor, his recent political ads don’t mention what happened towards the end of his second term.
A significant amount of Florida’s economic and job growth during Jeb Bush’s administration was driven by a massive run-up in housing prices, peaking during Bush’s last year in office and then completely tanking the state’s economy as the housing bubble burst.
This article originally appeared at I Agree to See.