Deficit Spend to Remake the U.S. Economy
The San Francisco Chronicle ran an op-ed by Teryn Norris today calling for major deficit spending on long-term clean energy investments to remake the U.S. economy. These strategic investments will create new industries, infrastructure, technology, and human capital to drive the U.S. economy for decades to come.
You can read the op ed at the Chronicle here.
Some deficit spending is needed to be sure - but that will increase the size of the government's debt. The national debt is at epidemic levels, and it has only increased over the last thirty years. Our grandchildren will be probably be paying off the debt incurred by the first Iraq war. Some serious cuts have to be made in the federal budget if we ever expect to get out the hole we're in. Granted, new industry, and sustainable industry that will survive on a long term basis is in dire need of creation in the US, but if we create industry that is funded solely on an increasing burden of debt will profit us nothing.
Posted by: SWelker at January 23, 2009 12:13 AM