[PEN-L:2988] Re: Re: New Economists' Petition

[Brad De Long <delong@xxxxxxxxxxxxxxxxx>]

>One
>
>>De Long, J. Bradford, University of California at Berkeley
>
>signed the pro-surplus petition. What are you thinking Brad?
>
>Doug

Get me Gephardt in the Speaker's chair and I will begin dusting off all my
Alan Blinder talking points:

	--deficit (and debt) reduction is a means to boosting investment
		in America, not an end in itself.

	--investing in America requires balanced investment--private
		investment but also public investment

	--a better America requires investment of all kinds, investment
		in corporate capital but also investment in human
		capital, and social capital.

	--most of the most productive investments in America's future
		are the kinds that businesses do not do, and that
		governments must do.

I would rather see the (potential future) on-budget surplus used to finance an
expansion of public investment and social insurance spending.

But is that the alternative to debt reduction that we are faced with this
year? Tax cuts for the rich are even less to my taste...



Brad DeLong