Next President Will Set Economic Tone Says Former White House Advisor

No matter who wins the election in November, the incoming president cannot change the economy overnight. But he or she will certainly set the tone. 'You can argue about tax cuts versus trade agreements, but the fact is that the president is a symbol for whether the country is interested in strong economic growth or not,' said Todd Buchholz, former White House director of economic policy under George H.W. Bush. Buchholz is also a former managing director of the Tiger hedge fund and a winner of Harvard's annual teaching prize in economics. He said the debts that have been piled up including Social Security and Medicare liabilities threaten to destroy America's future. In his view the president needs to tackle the important issues as opposed to pushing these problems onto the backs of future generations. Buchholz said great empires die out because people have fewer kids. Immigration in America helps solve that demographic problem so it should be encouraged in the country. That said, immigrants need to embrace the culture they are coming to, not stay in their own enclaves.