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More responsible, more progressive, more effective...

From the NDN Blog:

"The federal budget is on an unsustainable path, in which large deficits result in rising interest rates and ever-growing interest payments that augment deficits in future years.”
- Alan Greenspan, Testimony before the Senate Committee on the Budget, 4/21/05

The drumbeat grows louder every day. The current and previous heads of the Federal Reserve, along with leading media, have now seconded the NDN's recent critique of the Bush administration's reckless strategy of reduce, borrow and spend. In that Economic Strategy Memo, "Opening a New Front in the Economic Debate," we called on progressives of both parties to make their highest domestic priority a sustained campaign to forge a new fiscal policy that tackles the budget deficit and a new economic policy that helps the struggling middle class.

Unable to confront the mess they’ve created, the majority is desperately trying to change the subject, distracting us from what is clearly the most important domestic issue of the day – worsening economic conditions here at home. Rather than honest talk and a real willingness to tackle our emerging challenging we get Social Security privatization, Terry Schiavo, right-wing judges, attacks on our judiciary and efforts to end the time-honored filibuster.

Consider where we are today:

A fast-eroding tax base, skyrocketing spending and out-of-control budget deficits. Record trade and current account deficits that have driven down the dollar and vastly expanded foreign ownership of our economy. Four years of falling real wages and the weakest job creation record of any postwar presidency. Rising global competition that is making it tougher for American workers to prosper. Escalating energy and health-care costs. Bankruptcies, the number of uninsured, unemployed, and impoverished all up. $30 billion in money for our schools not delivered. And attempts to cut health care for our poorest citizens and programs that invest in the poorest neighborhoods.

Fellow NDN’ers, one of our goals this year surely must be to expose and defeat the reckless Republican economic and fiscal strategies and replace them with ones more responsible, more progressive and more effective."
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