Economic Revival The Best Way
No one argues the deficit needs to be controlled and reduced at some point in the near future before it becomes not only a drag on the economy but on future generations. Republican's are right to argue that mindless spending is only going to balloon the deficit without a plan to recover those spending dollars.
Democrats on the other hand are right to argue that to some extent, spending has to take place in order to jumpstart the ailing economy and get people working again. The problem is, the GOP opposes any spending regardless of purpose and Democrats favor spending that does not truly target the problem and aid the economy.
As noted in the story in this article from NPR, the economist who said we should both invest in the economy and reduce deficits, is right. His plan to introduce a business focused stimulus program similar to what FDR did is a healthy balanced approach that includes a plan for deficit reduction after the economy revives.
A successful stimulus that the GOP should support (and that Democrats should introduce), would include tax credits and grants to small business --the leading provider of jobs in America. The problem is, neither side seems to want to come together and build a sustainable program that accomplishes both deficit reduction and stimulus spending targeted to small business that create most jobs.
It is politics as usual in Washington. With just two years left in Obama's first term the GOP is content on stonewalling any possible success. Meanwhile Democrats seem lost on the idea of bipartisan approach that could accomplish a little something for both sides of the aisle.
