Byron York, a columnist for the Washington Examiner, wondered on Twitter what Bush intended by the piece.

"Trial balloon? Jeb Bush pens campaign-like economic manifesto for WSJ," York tweeted.

The article comes just days after influential New York Times columnist David Brooks suggested on NPR that Bush could launch an outside presidential campaign if Newt Gingrich fared well through the early primaries.

"I'm not holding out hope, but I do think it's a remote possibility. I do think the Republican Party is not going to nominate Newt Gingrich. If he emerges from the early primaries as the front-runner, someone's going to step in," Brooks said.