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Richardson 08 Campaign - Jobs Economy Full Plan FINAL

Richardson 08 Campaign - Jobs Economy Full Plan FINAL

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Published by Burton Lee

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Published by: Burton Lee on Jul 12, 2009
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07/12/2009

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Page 1 of 26
Creating a new American Century of Prosperity:
 Bill Richardson’s Plan for Job Growth and a Healthier Economy
TABLE OF CONTENTS
INTRODUCTION………………………………….……………….……………2BUSH’S RECORD………………………………….…………………………....3BILL RICHARDSON’S PLAN FOR THE ECONOMY………. ……………….6I. Real Fiscal Responsibility………...……………………………….……..…6II. Investing in Technology and Innovation.............................……………......9III. Investing in the American Workforce……………...……………….……17CONCLUSION………………………………………………………………......22REFERENCES……………………………………………………………….......23
 
Creating a new American Century of Prosperity:
 Bill Richardson’s Plan for Job Growth and a Healthier Economy
Page 2 of 26
INTRODUCTION
Our country faces a great economic challenge. Increasingly, highly-skilled workers across theglobe are competing for – and winning – the most desirable jobs available. Many of theseworkers come from nations with governments that have made the three essential choices thatgrow economies and create jobs:1)
 
They are choosing to invest in the future rather than spending extravagantly on present-dayconsumption,2)
 
They are investing in science and technology, and,3)
 
They are investing in their workers through education and workforce development.Unfortunately, the Bush Administration has taken the opposite approach. Over the past sixyears, President Bush has mortgaged our future by spending on everything from tax breaks forthe wealthiest to the war in Iraq to bridges to nowhere. He has cut government investment intechnology and in research and development. He has under-funded education and failed toreauthorize our existing workforce development programs.In New Mexico, however, Governor Bill Richardson took the helm of one of the poorest states inthe country – and turned it around by investing in the future. He demonstrated fiscalresponsibility by balancing five budgets. He transformed New Mexico into the “Clean EnergyState” by encouraging investment in emerging alternative energy technologies. And heredirected his state’s focus to education and workforce development, while restoring protectionsfor New Mexico’s labor force.If we are to remain the world’s leader in technology and innovation, we must revive theAmerican entrepreneurial spirit that has made us the most powerful economic engine in humanhistory. As President, Bill Richardson will lead a national effort to create a New AmericanCentury of Prosperity by:
 
Restoring Fiscal Discipline to our Federal Government
 Under President Bush, our country’s national debt has skyrocketed to a record-breaking $9trillion, with interest payments on the debt reaching $404 billion last year alone.
1
Our nextPresident must have the discipline to rein in spending so that we may return to the budgetsurpluses we experienced during the Clinton administration. As Governor, Bill Richardsonhas consistently demonstrated fiscal responsibility, and as President he will restoreAmerica’s financial strength.Governor Richardson has been successful creating jobs through targeted tax credits. As aresult, New Mexico has had an incredible record of economic growth and job creation overthe past several years. We must reverse the failed policies of the Bush Administration andprovide tax cuts to businesses that create good paying jobs.
 
Creating a new American Century of Prosperity:
 Bill Richardson’s Plan for Job Growth and a Healthier Economy
Page 3 of 26
 
Investing in Technology and Innovation.
 If America is to retain its leadership in the global marketplace, it must renew its emphasison science and technology and establish new incentives for innovation.
 
Investing in and Protecting the American Workforce.
 A highly skilled workforce is central to sustained job growth and a healthy economy. Ourcountry must establish a strong foundation of improved education and a workforcedevelopment system that’s streamlined and targeted to the needs of industry.The new global economy presents both challenges and opportunities. To ensure a prosperousfuture, we must protect our workforce, develop new skills, and help American businesses thrive.
BUSH’S RECORD
The Deficit
President Bush has a dismal record on job creation and the economy. Under President BillClinton, America’s finances regained a sound footing as we approached the new century. Afterthirty years of deficits, in 2000 we recorded a surplus of $236 billion, marking the second year ina row that the federal government spent less than it collected.
2
 Since George W. Bush became President, however, runaway spending and massive deficits haveonce again become the norm, placing our nation’s finances in jeopardy. Along the way, ourgross federal debt has increased from $5.8 trillion in 2001 to $9 trillion today.
3
 This increase has real-world implications for America. Instead of using surpluses to shore upSocial Security and pay down the debt, as was happening under President Clinton, we are insteadpaying more than $400 billion per year in interest-payments alone, a figure that will grow to$612 billion by 2013.
4
 The debt also has important consequences for our national security. As foreign-held debt hasdoubled since 2000,
5
America has become increasingly dependent on other nations, especiallyChina. The longer we delay fiscal reform, the more influence we give the Chinese and othersover our economic and trade policies.The Bush Administration’s excuse is that 9/11 and the War on Terror are responsible for thisrecord surge in spending. The facts, however, do not correspond to the Administration’s claims.Defense and homeland security spending have accounted for only one-third of the post-9/11deficits, with the White House’s tax and spending priorities accounting for the rest.
6
 

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