Maria Bartiromo, Global Markets Editor at Fox Business Network
Thank you Governor Barbour for answering our questions. I have two:

1) How do you believe the next president can create jobs? What is the secret sauce to creating jobs and growth in the U.S. economy? Why has it been so hard to achieve?

2) Why has it been so difficult for republicans and dem's to get along these last few years? It feels like because of animosity among them, nothing gets done and that's not right. I think POTUS also takes sides.
The dismally slow growth of the economy during the Obama recovery is a result of bad policy: Excessive government spending that results in more government growth instead of private sector growth; large tax increases that suck money out of the private sector; a growth of U.S. government debt by nearly three-fourths in less than seven years; and greatly increased regulatory burdens that drive up private sector costs and undermine economic growth.
The results: Since the Obama recovery began more than six years ago, GDP growth has averaged only 2.2% annually, while GDP growth after the last deep recession ended in 1982 was 4.8% annually on average over the same length of time; only 48.5% of adult Americans have a full-time job today; the labor force participation rate is the lowest since 1977; and median household income is 6.5% less than it was in 2007. No wonder half of Americans think we’re still in a recession.
Our government’s policies should favor growth of the private economy and not of the government. We need tax reform for both individual and corporate taxpayers, including lower rates, simplification, establishing a territorial tax system that brings more of the foreign profits of U.S. companies home, and much more. Let people keep more of what they earn and decide how to spend and invest that money rather than the government taking it.
Less federal spending that results in balanced budgets within no more than ten years will help the economy to keep interest rates remarkably low without seven years of zero interest rates engineered by the Fed. Finally rational regulation that is based on sound science, real risk assessment and honest cost-benefit analysis will allow much more growth for businesses small as well as large.
To answer your second question, we are in an unprecedented era where the party politics are both at parity and extraordinarily polarized. The difficulty in passing important legislation (Congress hasn’t passed a budget with the statutorial appropriations bills in years) is not simply a result of divided government. Presidents Reagan and Clinton both presided over divided governments (Reagan never had a GOP House of Representatives; Clinton had a fully GOP Congress for six years) and were very successful in passing major, complex and contentious legislation: They led; President Obama has not attempted to lead Congress in a bipartisan way, but has instead chosen to avoid Congress and try to achieve his goals by executive action.
The next president will need to lead Congress if our economic and national security problems are to be addressed. The Democrats will still be the liberal party, and the Republicans, the conservative party; but to reduce the severe polarity, the middle must be rebuilt in Washington so that its size is representative of the center in the country’s population. I believe we are a center-right country, and a successful administration would reflect that.
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