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- U.S. Treasury Secretary Yellen: We have a window to invest in ourselves
U.S. Treasury Secretary Yellen: We have a window to invest in ourselves
- Thanks to Congress, I believe, we are well on our way towards that goal
- Pandemic was not our only economic problem; long before COVID-19, millions of people in this country were running up against series of long-term, structural economic challenges that undermined their ability to make a good living, including divergence in wages and of geographic regions, decline in labor force participation, rise of climate change, and persistence of racial inequality;
- There are clear reasons why these destructive forces have festered: the private sector does not make enough of types of investments needed to reverse them;
- We need to remedy this lack of investment. We need ambitious fiscal policy to start unwinding these trends
- President’s Budget, which includes both American Jobs and Families Plans, will repair fractured foundations of our economy;
- We need to make these investments at some point, and now is fiscally most strategic time to make them
- We expect cost of federal debt payments will remain well below historical levels through coming decade; we have a window to invest in ourselves
- In fact, this Budget is both fiscally strategic and fiscally responsible
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