What's hard is resisting the temptation to spend and spend and spend, like GW Bush and Gray Davis, Ronald Reagan, and Lyndon Johnson.
Three other requirements :
2) Avoid stupid wars. That means everything except Grenada, Desert Storm I, and World War II. Maybe the intervention in Bosnia, with the object of stopping a repeat of the World War I events. Somebody might argue for the Korean intervention.
3) Don't screw up the economy by running large surpluses too soon. That leads to recession - see Clinton's last two years, Herbert Hoover. Don't raise taxes too much on long term capital gains.
4) Put some big money into long term projects that build the economy - Interstate highways, education for scientists, development of the internet, war on cancer, biotech, nanotechnology, Head Start, GI Bill etc are all good examples with high payoffs. Can be infrastructure, people or R&D, preferably some of each.
Following the above, the US economy should produce 2.5-3.2% real GDP growth per year. |
