A Reminder of What The Election Should Be About

From “Capitalism Version 2012,” Thomas L. Friedman, NYT:

“America’s success for over 200 years was largely due to its healthy, balanced publicprivate partnership — where government provided the institutions, rules, safety nets, education, research and infrastructure to empower the private sector to innovate, invest and take the risks that promote growth and jobs.

“When the private sector overwhelms the public, you get the 2008 subprime crisis.  When the public overwhelms the private, you get choking regulations.

“[T]he ideal 2012 election would be one that offered the public competing conservative and liberal versions of the key grand bargains, the key balances, that America needs to forge to adapt its capitalism to this century.

“The first is a grand bargain to fix our long-term structural deficit by phasing in $1 in tax increases, via tax reform, for every $3 to $4 in cuts to entitlements and defense over the next decade.  If the Republican Party continues to take the view that there must be no tax increases, we’re stuck.

“As part of this, we will need an intergenerational grand bargain…. We need a proper balance between government spending on nursing homes and nursery schools….

“Another grand bargain we need is between the environmental community and the oil and gas industry….

“Another grand bargain we need is on infrastructure.  We have more than a $2 trillion deficit in bridges, roads, airports, ports and bandwidth….

“Within both education and health care, we need grand bargains that better allocate resources between remediation and prevention. … We waste too much money treating people for preventable diseases and reteaching students in college what they should have learned in high school.

“Capitalism and political systems — like companies — must constantly evolve to stay vital.”

The problem is too much willfulness and not enough will.   We limp along on last-minute, short-term, lowest-common-denominator bargains, but can’t manage the “grand bargains” that will get this country soaring again.

 

 

 

 

One comment on “A Reminder of What The Election Should Be About

  1. But instead of the things that this blog discusses, the candidates are concerned only with women’s vaginas and what they can do to interfere with them.

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