How More Government Can Save America
Un alt articol pe care il supun atentiei este cel intitulat “The Case for Bigger Government” de Jeffrey D. Sachs, publicat in Time Magazine pe 8 ianuarie. Articolul original il puteti gasi aici.
The Case for Bigger Government
By Jeffrey Sachs
Thursday, Jan. 08, 2009
President-elect Obama has said that he will run a deficit of $1 trillion to make a meaningful difference in this ugly recession.
Thirty years ago, Americans were told that government was part of the problem, not the solution. We bet on the magic of the marketplace, but the magic proved illusory. Every major part of the economy — health care, energy, transportation, food and finance — is deeply troubled. Now we are ready to invite government back in to help solve our problems, if the price is right and the strategies are convincing. By spending more through government and treating government as a partner rather than an enemy of the private sector, we can potentially save vast sums in the long run through a more efficient health-care system, safer climate, more competitive economy and more secure country.
President-elect Barack Obama’s challenge will be twofold: to capture the potential benefits of a new age of government activism, while still protecting the country’s long-term fiscal health. On Jan. 6, Obama warned that the cost of a major stimulus package and the continued effort to bail out the financial system could result in years of “trillion-dollar deficits.” Deficit spending is needed to help revive the economy from recession, but trillion-dollar deficits for years to come would sink us in debt and risk a collapse of the currency. We need a sensible strategy that deals with the present crisis while preparing for the future. We need more government, and to pay for it we’ll need to raise taxes relative to GDP over time… Cititi articolul integral aici.