Our Fiscal Security: Investing in America’s Economy
Our Fiscal Security, a collaborative effort of three non-profit public policy organizations: Demos, the Economic Policy Institute, and the Century Foundation, recently released a blueprint for national economic recovery. The report, Investing in America’s Economy: A Budget Blueprint for Economic Recovery and Fiscal Responsibility, puts forth a series of policy recommendations to achieve budgetary sustainability at the national level along with the creation of a stronger, broader middle class with increased economic security.
- Jobs first: No overall spending reductions until unemployment has fallen to 6%
- Stabilize debt: Stabilize national debt as a share of the national economy
- Build on economy-boosting investments: Invest in long-term initiatives that support job and economic growth
- Target revenue increases: Target revenue increases to those who have benefited most from past economic gains
- No cost shifting:Â Don’t shift government costs to individuals and families with policies that leave the overall economy no better off.
“We believe the current recession is not a justification for fiscal austerity, but rather a chance to show how investing in the middle class can help us grow our way out of tough fiscal times. Our polices work against the erosion of investment we have seen over the past 30 years while modernizing the tax code.
Americans have a choice about how best to solve our long-term fiscal challenges. Some will suggest that severe fiscal austerity and cuts to national investment are the only way out of the current situation. We believe there is another way: as a nation we can instead make the decision to actively create jobs and to rebuild American while demanding fiscal responsibility.”