A key challenge for President Obama this election year is to reconcile economic growth with fiscal responsibility. In this, he's not alone — center-left parties in Britain and elsewhere are grappling with the same conundrum.
In an essay for London-based Policy Network, I propose a progressive "cut and invest" approach that melds the twin imperatives of spurring growth and shrinking debt. In addition to defining a certain path to debt reduction, it would redirect public spending from consumption to job-creating investments in infrastructure, skills, and technology.
Policy Network, set up by Tony Blair, is a key transnational forum for idea exchanges and debates among center-left parties and thinkers. I'm proud of PPI's association with the Network, and welcome your thoughts on this subject.
President, Progressive Policy Institute