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Fiscal Blueprint Press Release

Fiscal Blueprint Press Release

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Published by Demos

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Published by: Demos on Nov 29, 2010
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11/29/2010

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-more-
ForImmediateReleaseMonday,November29,2010
Contact:
TheCenturyFoundation:ChristyHicks,212-452-7723Demos:TimRusch,212-389-1407EPI:PhoebeSilag
 
,202-331-5546orKarenConner,202-331-5542
OurFiscalSecurityreleasesplantocreatejobs,makecriticalpublicinvestmentsandreducefederaldeficit
OurFiscalSecurity,acollaborativeeffortofTheCenturyFoundation,DemosandtheEconomicPolicyInstitute(EPI),todayreleased
InvestinginAmerica’sEconomy:ABudgetBlueprintforEconomicRecoveryandFiscalResponsibility 
.This
Blueprint 
isacomprehensive,detailedroadmaptoimmediateinvestmentsinjobcreationwhileaddressingthenation’slong-runfiscalchallenges.The
Blueprint 
takesaverydifferentapproachfromotherprominentproposals,specificallyprioritizingastrongeconomicrecoverybecausewidespreadjobcreationandrobusteconomicgrowthareessentialtosuccessfuldeficitreduction.Theplanwillproducethefollowingshort-andlong-termresults:
 
Substantialandsustainedincreasedfundingforjobcreationandinvestments,especiallyinthenearterm;
 
Abudgetpaththatsignificantlyimprovesthe10-yearbudgetoutlook;
 
Atransitionfromaprimarydeficittoaprimarysurplusin2018,andsustainabledebtlevelsbytheendofthedecade;
 
Animprovementinthelong-termpathforpublicdebt,stabilizingdebtasashareoftheeconomybeyond2025;
 
AsolidfootingforSocialSecurity,Medicare,andMedicaidforthelongterm;and
 
Amodernizedtaxcodethatraisesadequaterevenuefairlyandefficiently.The
Blueprint 
’sbudgetpathboostsfundingfornear-termjobcreation,achieveslowerdeficitsinthemedium-termandbalancestheprimaryfederalbudgetinlessthanadecade.Itdoessowiththerecognitionthatboosting—ratherthancutting—spendingonnationalpriorities,includinginfrastructure,transportation,technologyandeducation,iscriticaltoAmericanprosperity.Unliketheotherplans,the
Blueprint 
providesapathtodomorethancutthedeficit;ithasasitsoverarchinggoalthecreationofastrongermiddleclassandafundamentallymorerobustAmericaneconomy.The
Blueprint 
presentspathsforexpandingandredirectingpublicinvestment,modernizingthetaxcodeandefficientlytappingnewsourcesoffederalrevenue.It
raisesrevenueandmakestargetedfundingcutstoreducethedeficitwhilebudgetingfor$2.5trillionworthofjobcreationpoliciesandinvestmentsinAmericaoverthenextdecade.Majorpolicyproposalsinclude:
 
Gettheeconomybackontrackbyinvestinginimmediatejobcreationandastrongeconomicrecovery.
 
Createthefoundationforlong-runeconomicgrowthbyincreasinginvestmentinearlychildhoodeducation,qualitychildcare,infrastructure,publictransit,ruralbroadbandconnectivityandresearchanddevelopment.
 
Addresstheprimedriveroflong-termdeficitsthroughpoliciesthatwillreducethegrowthofhealthcarecosts.

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