The most important statement in President Barack Obama’s compendium of the State of the Union was: “Now, most of us agree that a plan to reduce the deficit must be part of our agenda. But let’s be clear: deficit reduction alone is not an economic plan. A growing economy that creates good, middle-class jobs – that must be the North Star that guides our efforts.” In those 49 words, the President articulated a standard by which all economic policies can be measured: economic growth.