The 42nd President talked with TIME's managing editor, Rick Stengel.
So what has happened to the economy and the U.S. over the past 30 years?
We face more intense competition from around the world, and at the same time we have adopted this antigovernment philosophy, which has mostly been antitax and antiregulation, so that we've dramatically increased the national debt. So we have to figure out a way to put the country in the future business. We have to get a hold of the long-term debt problem, and we have to revitalize the private sector. And you can't do it with...
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