Much of what we consider the American way of life is rooted in the period of remarkably broad, shared economic growth, from around 1900 to about 1978.
If the American government can't stand behind the dollar, the world's benchmark currency, then the global financial system will very likely enter a new era in which there is much less trade and much less economic growth. It would be, by most accounts, the largest self-imposed financial disaster in history.
Besides being a prime cause of poor economic growth, poor governance breeds corruption, which cripples investment, wastes resources, and diminishes confidence.
I took the initiative in moving forward a whole range of initiatives that have proven to be important to our country's economic growth, environmental protection, improvements in our educational system.
More and more people realize the importance of economic growth, near-term and long-term in the U.S., and the competitiveness with other countries around the world.
Climate change might be disastrous, but does that mean we want carbon taxes that raise the price of a gallon of heating oil to $10? And how exactly will those taxes affect economic growth?
To finance deficits, the government must sell bonds to investors, competing for capital that could otherwise be used to invest in stocks or corporate bonds. Government borrowings raise long-term interest rates, stifling economic growth.
College has been oversold. It has been oversold to students who end up dropping out or graduating with degrees that don't help them very much in the job market. It also has been oversold to the taxpayers, who foot the bill for subsidies that do nothing to encourage innovation and economic growth.
Learning is not just a labour market or economic growth issue. It is an integral part of human development. We learn from birth to death.
There has almost never been a period of substantial economic growth in the United States without significant investment. And no investment pays off within the same cycle. No investment pays off within the same year - especially a governmental investment. Even businesses don't work that way.