Issue Position: Economic Prosperity

Issue Position

Economic growth is the solution that will cure our budget and deficit issues. We have seen, coming out of previous recessions, that economic growth solves both the recessionary and budgetary problems. President Clinton entered office with a large budget deficit inherited from Ronald Reagan and a recession from George HW Bush. His tax and budgetary priorities over the next 8 years not only eliminated that deficit, but created the longest and largest job and economic growth period in our nation's history. This is the model that we need to follow. Trickle-down economics has served only to increase the wealth of the top 1 -- 5% of the economy, while providing only stagnant real wages to the vast majority of Americans. This approach to economic growth can no longer be acceptable.

The reason our economic recovery is stalling is not the failed policies of the present administration, but rather that we did not push for sufficient sustained stimulus when we had the chance. Most credible economists agree that we needed more stimulus spending starting in 2009 and continuing through today to bring us out of the recession. We can neither shrink ourselves to nor trickle ourselves down to growth. When a business seeks to grow, they go to the capital markets to either borrow or sell equity to raise funds to invest in their future. Why would the economy as a whole behave any different?

Source