Bankers versus base: deficit reduction is the wrong obsession. Democrats need to embrace jobs and growth.
American Prospect, The, May, 2004 by Galbraith, James K.
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THERE MAY COME A DAY, IN JANUARY 2005, WHEN THE Democrats will come back to power. Can we perhaps divert ourselves from the campaign long enough to ask, what then?
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The Democrats have a problem. Their base wants jobs and security. Their financial leadership wants a return to the Clinton formula of deficit reduction, leaving low interest rates to generate economic growth and jobs. John Kerry's emerging economic platform pays heavy homage to this formula, but it is unlikely to work out. A return to Bill Clinton's policies will not reproduce Bill Clinton's results. There are at ...
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