George Gilder, who helped found Discovery Institute, describes in The Wall Street Journal today the challenge to the Romney-Ryan ticket and the challenge to the U.S.: How do you foster enough economic growth to raise us out of the current slough?
A couple of years ago George and I were in Los Angles and visited a wealthy man who lives down a deep canyon and has developed a computerized diagnostic tool for analyzing the current state of the U.S. economy. This man, a product of the new tech economy, had concluded that there was no way to save or cut our way out of the current federal deficit hole. I think it is fair to describe him as fatalistic and negative. What we suggested was that the way out was to grow out, to create not one but many new "Microsofts" and "Googles" each year.
Crazy? George thinks otherwise.
But it does take a favorable federal government, which is not what we have now.