The economy continues to struggle in the aftermath of the financial crisis of 2008. Unemployment remains stubbornly high, people are losing their homes to foreclosure and the price of gasoline is putting pressure on the budgets of already cash-strapped families. Additionally, the nation faces a mounting national debt that, if unaddressed, will weigh down future economic growth.
The recent gains in employment over the previous months are simply not good enough. The economy must grow at a much more robust pace if the country is to meaningfully reduce unemployment and give working families the income security and confidence that will re-energize the economy.
Similarly, better efforts must be made to balance the budget. An aging population and rising health care costs are the chief drivers of our long-term debt issues, facts that must be recognized and addressed. If they are not, the social safety net that has been carefully created and defended over decades will be threatened.
However, efforts must be weighed to reduce future deficits against the need to invest in future economic growth. Nothing will address the debt burden more effectively than a balanced approach that focuses on protecting federal programs that are critical to education, financial security and domestic job creation.
The global economy is changing, and the country must adapt in order to retain its place as the most vibrant economy in the world. As the developing world makes significant gains in both economic growth and skilled workers, the United States needs to focus on the comparative strengths that have driven the economy to unprecedented heights.
The hallmark of the United States economy has always been innovation and entrepreneurship. The country must do a better job of utilizing its highly educated population, fostering partnerships between research centers and private business and incentivizing the continued American dominance in developing cutting edge technologies.
If focus is given to those areas, the United States will continue to dominate the world stage while providing American workers with high-paying and rewarding jobs.
- Expanding opportunity and creating jobs
- Balancing the budget and reducing the national deficit and debt
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