june 2009 you see the revolutionary guard they seem to be on the rise over the years. sonat seeing i ran changing any time this supreme leader is around. not until this revolutionary generation goes. one thing that is interesting is how often we move to conflict but we could move to the light.

with the reagan and ministration, george hw bush that might have traction after the iran-iraq war there was considerable amount of talks. it is there. i don't see that going away because we have different views of the future in the middle east. >>host: thank you for the conversation. best of luck with the book.

[applause] thank you for coming. when we have been an event like this one year from now i think we will obese in a place you really like.

[laughter] is a pretty good interim step. i want to thank the president of smu and. [applause] yes. they are here with their spouses and our relationship has exceeded our expectations. we are very much involved action oriented programs. to make a difference. thank you for having faith in us i ask the new to support the bush center.

we went over there when of the major initiatives was to honor human life. all life is precious america or africa. weird disturbed many women who have a that hiv virus are getting cervical cancer and not much is done. we have a collaborative effort to save lives. starting in botswana as well as a follow-up in zambia. we wanted to refurbish a clinic. you are never too proud to

handle a paintbrush. there was more on me than the wall. [laughter] i wish the christine the faces of the wheaties who showed up. to be screened. 158 women have been screened 20% have cancerous lesions. most were treated right in the clinic. mattel you this story because the bush center is involved with saving lives. it makes of difference to people you never know. their lives have been changed.

jim well, then a second with the executive director of the bushes two to we decided we would assemble the finest minds in the country. we could grow at 4% with the right policies. we will never fix the deficit without growing the private sector to five don't take my word for it. was sent to experts. you are the first to see it.

jim will introduce. jim was the very able editor and will conduct the panel. james k. glassman from the george w. bush institute levying us nobly in the first 18 months of existence 55. >> president bush talked about what we've are doing in africa. you cannot be freed if you are sick. so the people of our iran or

syria ed do. we are freeing young minds with the education in program. with the women's fellowship. with the veterans and families through military initiative. now it is about economic freedom. the free-market capitalism goes back to the just way of economy. allows individuals to decide the course of their lives.

amadeus chalets it began as a conference 2011. we hired top economist and held a second conference and we have an event in chicago featuring governor ridge daniels. but with the growth and solution we're currently growing at 2%. the book offers ways to get at 4%. unemployment will plummet. and hopefully it will help the economy during the election campaign and beyond. we will have a discussion of

pierre talk about my former colleague from the air route -- american enterprise institute a former economist from the fed focusing on spending, taxes and 70. and former chief economist and deputy commissioner with the social security administration. but finally our own at editorial director who edited the book i want to thank the contributors.

raise your hand. and reality is not here today. this is not the bush -- the bush institute's first book. but published by a major trade publisher. ground. we will get a broad circulation and. in a real sense is yours. i want to to go next -- are

you comfortable? [laughter] i like you better sitting. you tried to wrangle 21 authors tell about the story. he said we have four nobel authors. i said we better check to make sure they come through. he said i am busy. i am not sure.

so i approached vernon and said william wright a chapter? he said no. i thought this is not promising. he comes back and says there is a chapter i would like to write to. i am studying the housing crisis. housing has less into every recession. it is day better indicator. those two exceptions to not disprove the research.

why and was the recession after world war ii and 2001. he goes further to say that helped us understand 2008. it actually power through the room recession. he came through and thought it was a great addition i say this worked out well. now i can say now we have five nobel prize winners that is not include the

future nobel prize winner. [laughter] i just want to say you guys for coming down. is it possible to get at 4% growth? yes. are we would not let you be in the book. [laughter] but to a acknowledge the president for his vision i am from washington d.c.. that is the big difference. mess with washington d.c.. but why change the policy debates i have never seen a president that was down in the weeds as president bush.

but in the yearly years he called prize-winning economist into the white house. maybe the room? i wondered what bush was like. at the beginning the questions that were bugging him about moral hazard. he plays the rancher down here but he is a policy want. president bush has a curiosity. yes 4% growth is possible. we half to stop doing the wrong things. first, i get tax policy

right. that is very simple. we're not doing it. the highest corporate tax country in the developed world. dion at and of the congo are the two worst but after that we're the least friendly place. [laughter] a bunch of research shows of we could fix what we're doing we could add over the next decade. we owe a huge amount that are running $1 trillion per year. have been mined what government does?

think of everything you think government does. we would still have the deficit. we need is spending reform. whether to ratios contrary a few are in a situation with high government spending if you bareback you get growth quickly there is another half of a percent with this goal consolidation. other countries have been as messed up as we are. third, stop having everything fire in december. what we do next year should

you hire new workers? if you just fix the rules permanently to say that is what the rules will be a paper was just published that economic uncertainty that came up with a clever measure. it was the highest it has never been. gdp was 1.5% lower because of uncertainty. that is 1.5%. out of fiscal consolidation that gets way above board.

you may not get to the high-end number but i am optimistic if we get to a head of the curve think you. >> i want to turn to jason who wrote a fabulous chapter we know so security and medicare are in trouble but how do reform the social security system to get >> you have two minutes. growth? what do do to get growth? >> two 1/2 to hours? >> you have two minutes. [laughter] mr. president think you. >> sit here instead.

>> i apologize i did not get to the node tye memo. [laughter] the commissioner at social security that really means those who are old today if those who will be old. some people think that is fair false assumption. it is not being used to watch for productive capital purposes. they think they have an account with their name on it. that is not true. president bush tried to get the private account now we

have a low savings rate. consumption has gone down that is still horrible. we are borrowing to much money and the social security system has perverse incentives. you'll never grow the economy if we discourage work. the securities system encourages them to retire at 62 but we continue to tax them afterwards. now it penalizes the second to earner couple. how do we change those incentives? right now we discourage work holdings the economy back.

we could raise the retirement age are the tax structure and not pay payroll tax. why would you want to benefit? you need to change those formulas. i don't have kids. but those that don't produce enough children end up stagnating and dying. we would be balanced right now. but how to read change the tax system for those who have dependent children? they would could pay the

same benefit but to make the bird in smaller. these are all the things we have to do going forward. we have to go to the etfs people need to save. without personal responsibility we will not hit 4% growth. >> let me open the floor to questions. you have a great opportunity. they do a good job to explain. >> i love action.

of life to ask what is one thing the people can do tonight to to move us toward president bush's dreams? >> what is the one thing people could do before they go to bet to it advance us to the dream of 4% growth? >> by two copies of the book. keep one and give one to your neighbor. [laughter] [applause] we are not having a concerted dialogue. we need to have a discussion

of the media is not helping. it needs to be honest. only then do we influence the debate. >> that is fabulous but i want an amendment. 90% of the box -- books that are bought arnet ever read. give a summary. >> we have already done that. [laughter] >> kay and the people in the back here? yes? i will bring everybody appear.

but read the book is correct but the reason it is so effective when you read the chapter talk about dealing with the economist it is a lot of work. then you start to understand the mess we are in. it makes perfect sense. when i have learned is if i don't buy a new car and put money in the bank then i have money in the bank. if you use that interest i have a higher level of consumption.

some of the same is true for the united states of america. to see future consumption and growth. this was evident the environment friendly 82 businesses then we have for capital in the future with 4% growth. but it makes sense. that is what the people in washington and are not talking about. [laughter] >> president bush's

forward, am i chapter and growth and also chapter six which presents three or four ways. other questions? >> one goal is to change the conversation. growth really matters. it makes solving other problems easier to do. growth matters it helps us to get towards growth. it is ultimately the target. >> other questions?

>> god forbid. we get the obama for more years. [laughter] what do suggest? >> president bush has been non-partisan. he focuses on substance. if you focus enough you can convince anybody. as the think tank years is to make convince saying arguments in the fact is unemployment is so high we're desperate to four good idea is.

"the new york times" gave the book a rave review but they probably did that because they recognize the gravity of the circumstances. i cannot imagine the patriots not having that attitude in november. >> either chances. [inaudible] >> imm optimist on america up. if it was publicly traded i would buy a the stock everyday. we have ideas requiring action in washington, state

level, and individual level. i am an optimist. we will get back to growth. >> the organization that has large developed nations did a study to identify the of the nation's 10 judged the fiscal adjustment to make it they do not make it into no-man's land. that adjustment the immediate tax increase or reduction in spending is about 3% of gdp.

word to cut spending. such a have a fiscal adjustment is somebody says my answer is in my dreams. we promised much bigger benefits i a domino if we make those changes but there is a way to get out ahead of it. that opportunity is unprecedented. >> i can understand that

from kevin. he is an economist for crow we will get the doctor and microphone but we will just wait. can you hear me? do you have concrete ideas that solve the problem that cut the taxes and cutting jobs? i am saying it wrong. if you cut the spending if you keep spending you have the problem. we need something concrete

about the being to grow. >> the doctor said how do resolve the paradox for the conflict that if you cut government spending you cut jobs but if not to increase the debt. kevin's chapter actually goes into this. and a very interesting way. cutting spending is not always bad for krupp in the last three years the federal government added 35,000 regulators. more than obama's took office. those and not necessarily good for the economy.

you have to change long-term growth of entitlements. then you don't have a big radical reduction this year but in 10 years it is lo wer but we know we can pay for it. also reducing benefits that people can see. more kids today believe and extraterrestrials they and getting their social security. [laughter] they don't think they are worse off. they may decide they are better off. >> i cannot believe voyage

off the road of the u.s. engineer who went to china. u.s. engineer sees them using shovels. wide aren't using modern equipment? we're trying to create jobs. all jobs are not the same. the jt's you reduce spending or even a growth which is important does not allow the slowing of the growth level. but entitlement reform 3.5 trillion dollars last year

1.5 was so security and medicare/medicaid. 45% of government expenditures are growing. security is the of billion-dollar program. medicaid is growing. if we don't get more growth oriented we will hit of fiscal clef. we are lucky interest-rate are so low. where do you put your money? they are putting it here. magistrates staying lo will not be forever. every when% we add to the

interest-rate we add trillion dollars. we pay china for their military. we cannot afford to let that happen. we're putting policies in place 2013 will have the exact same problem. what the institute is doing is have a discussion talk about the debt crisis and the history hitting the tipping point* when you hit 90% you will see their retardation of growth. right now we are 100%.

we now see a reduction of the debt. there is a way to get the debt to in order and have more savings that encourage that. these policies need to be put to in place for it is difficult going forward. >> you hit the nail on the head spending more every year than we bring in. by some miracle of from the wins will there be the political will to reduce

spending and raise taxes that is the might of historic low interest rates that will go up and china will realizes our debt to is no good. >> insert is yes. corporate tax rate. obama and mitt romney have advocated for reduction of the corporate tax rates. obama's says 28 and mitt romney says 25 i think we need to have that dialogue because of the corporate rate something could have been 2013 regardless who is

elected. that is a time for a tax return talk about the deficit to "the new york times" columnist with things the stimulus bill before lourdes was not big enough but how has that worked for us? >> within a discussion of economics i will mention one of the political will. there was a chapter to talk about a line of the average gdp growth. sometimes less and sometimes more. something is interesting.

look at the recession taking a step down. we never caught back up. not only that we're on a lower trajectory. another one of the chapter offers said it is not too dissimilar. after world war ii we are in line. then we step down and do not catch back up. hereafter year that gap got wider. it is a significant gap. to get back to save we don't

give back to the growth we can look at europe to say that is our future. and say that is not the future that we want. just like people being unemployed. i faint what you see in washington is there is a consensus to put americans back to work. >> understand the way we got into the mess is the number of policy people those of pfizer's to take a chapter from cannes and borrow and

spend money. it will be great. those said it will not work because if you put to the surge of spending if you take away his not only have to know it is bad this year but great next year. that did not seem plausible at the time. it is somewhat reminiscent. there was not a democratic senator in that hearing willing to defend the stimulus. i was pretty combatant and

nobody argued with me. it is a great opportunity. >> 12 empathize talking about fiscal policy and this book gets deeply into energy and entreprenuership that change can promote growth. thank you for coming. thank you mr. president. pick up your book on the way out. and read it to. [applause] [inaudible conversations]

>> booktv look at the books that shape in america but we also want to issue an invitation to the what books you think should be included. with the on-line discussion e-mail us at booktv@c-span.org. >> host: a new exhibit at the library of congress

called books that shaped america. we are taking a speeeleven. roberta shaver is the associate librarian. why are they books that shaped america? >> as opposed to change america because with the american society it is a better word to imply that connotation. but the fabulous part is no one book in shaping america. that had been impact on culture and society and the essence of what america it is. it is improper to pick one book out of 88. >> host: it starts with

common-sense. >> guest: the earliest was ben franklin's on electricity. one was dr. spock's book praising your child in a common-sense way and of course, common-sense that sparked the american course, common-sense that sparked the american revolution. they're not all first editions or very rare but many would be. if not one of the kind. those descriptions by the authors what i a door is part of those not but now

there send books to read on the ipod button in the olden days. one is tarzan. i cannot think of the other one. >> host: in the exhibit is a lot of novels. not only but the common people read but some novels but it appeals to all ages. is a children's audience. >> how did they shape america of? >> many defied the

aspirations as a nation others told of the experiences like the diary of lewis and clark. and to talk in dialect. also to have some social cultural books mentioning dr. sparc -- dr. spock and the big book. some were self-help or barriers. we did not want to limit ourselves to a particular

version on run or a certain rating style. we looked for what was innovative. but what used the books and stories going into the front here. >> here at the library of congress you were in charge of the wiggling process? >> it was a very large committee with no chairperson. we had a number of discussions. it was not difficult because this is not a definitive list.

what we wanted to do was to spokes that would give america ugh talking. that was not as difficult as the 100 book. >> those that create the movement one of the interesting phase is they not only create social movement but lead to legislation. we know it created the forerunner to the fda. actual social change. >> host: why 88?

>> guest: where we decided to stop. we single about 10 or 25 one-hundred. we said we think that is said good number. >> poetry and religious books? >> we have quite a few eight suppliers. walt whitman and allen ginsberg. we tried to be clear it is an impressive part of american history and they have been committed to rating and reading poetry. >> we do have a graphic bible.

although not associated with religion they have a do good tone. and the a particular religious book. we tried to look at the value rather than religious books. >> host: how did you get your start? >> i started 30 years ago the assistant to the law library and out of law school. i fell in love from the library of congress. you cannot keep me away. to be here by books or

musical scores movies, the whole gamut to is such a thorough and privilege you will have trouble getting me to retire. this is open to the public through september. we have dave virtual version on our website and part of the conversation is we ask people to comment on the books we have selected licensing should not be on the west or should be added. we want to hear from you. we have heard from 5,000. people should go to our

website you can find the list of the books and to complete a form. >> host: the last book was 2002. >> yes. we thought and if we look at books that shaped america they needed to prove their worth. this is the organic endeavor we will keep looking at books that shape america up. let's stop at 2,002. >> host: in the later books also cesar chavez. >> of course, randy's book

had a huge influence on aids research and raising our consciousness and cesar chavez a leading voice of america. >> host: worthies book's best sellers? >> many continue to be and have not gone out of print. that was not a specific criteria but it continues ideals over the world. >> host: what about emily dickinson? >> she is a must have. the particular book we have is it an art book done by a cooperative in cuba with reproducing the book of poetry making a facsimile of

her house and a little tree made out of recycled materials. emily dickinson was a phenomenal poet but we did not know about her until the 1950's when we could read her words i and edited. >> host: who did that? >> guest: those professional editors like to make her conform that was a construction. >> host: associate librarian at the library of congress. books that shaped america at the library of congress. roberta schaefer. >> that is the library of congress books that shaved america exhibit. what books do