Imagine 45 days in the nation's capital where egos on either or both sides of the Congressional aisle are bruised.

Whether President Obama wins or loses, former Florida Governor Jeb Bush notes that there is "ample evidence" our current president is "no Bill Clinton."

Tax cuts equivalent to 3% of GDP are expiring and massive spending cuts are set to kick in. It's not hard to envision a scenario where no consensus emerges. Bush, who was interviewed at the 3rd Annual FA Retirement Symposium, said the "markets could spank the U.S. government but the people could pay the price."

In an interview, Bush noted that the so-called financial repression arising from the Federal Reserve's extremely relaxed monetary policy is penalizing savers across the country and the problem is particularly acute in his home state of Florida. He noted that the social contract America made with seniors whereby if they saved, deferred income and invested in safe and secure financial vehicles they could enjoy a comfortable retirement has been torn asunder. People living longer should be a positive development, he added, but today even those who worked hard and saved are afraid of running out of money in a world where money market funds pay 0.02%.

Bush also had sharp words for Massachusetts senatorial candidate Elizabeth Warren, who famously remarked that "no one ever got rich" without help from the government providing safe streets and sound schools.

"Wealth pays" for government to provide safe streets and good schools, he said.