Forum Post: A Balanced Approach to Solving Our Fiscal Problems

Let me start off by saying that I am a registered Democrat and I believe in many Progressive views particularly on how to deal with education, climate change, and healthcare. But above all I believe in creating an atmosphere in Washington DC that rises above false rhetoric and misleading talking points and instead is founded in truth and honest debate. With regards to the debt ceiling issue, both Republicans (and some Democrats) demagogued the issue and made it much harder for us to find a long term solution to our fiscal problems.

S&P has just downgraded the rating of our sovereign debt from AAA to AA+ because of the political stalemate brought on by this disingenuousness. Now that we are in this undesirable situation, I hope members from both sides of aisle can come together and put a forward a monumental deal to restore the nation's long term fiscal health.

I support cuts to spending on par with what most Republicans are calling for. I support cuts and reform to Medicare and Social Security (although not in the manner which the Ryan Plan sets out). But we cannot restore our fiscal health and provide for the level of government that most Americans demand without raising additional tax revenues. And this has to come from both closing tax expenditures and increasing tax rates. The country's future depends on implementing such a comprehensive plan.

The government can probably do very little to promote economic growth in the short term, whether it is through stimulus spending or tax cuts. But it can help to promote economic growth in the long term. While spending money on education and infrastructure are vital, the most important things we need to do in to promote long term growth are restoring fiscal prudence, restoring stability in political institutions, and restoring the trust of investors in our government and our country. We did not lose these things overnight and we will not regain them overnight, but let us make a commitment in both words and actions to getting this done.