Portraying the national deficit as a disaster waiting to happen can be a useful way to get people interested in the often dry matters surrounding federal budgets. The problem is that these increasingly popular narratives are usually not accurate and leave the impression that severe austerity is the only way to achieve fiscal health.
On October 18, EPI, in partnership with The Century Foundation and Demos, is launching the Our Fiscal Security project to present a new framework for thinking about the federal budget.
Our Fiscal Security promotes budget policies that balance fiscal responsibility with priorities designed to strengthen the American economy. The partners believe that the foundation of that strength—a secure and growing middle class—is being tested by falling incomes, lost wealth, high unemployment, and record foreclosures. Rather than making the choices necessary to reestablish a solid economic foundation, some politicians are succumbing to a slash-and-burn approach to the federal budget.
Our Fiscal Security has created a Web site to serve as a one-stop shop for progressive economic analysis and leadership on fiscal priorities, www.ourfiscalsecurity.org. The site features extensive commentary, research, and analysis on crucial budget issues, including tax policy, public investment, healthcare spending, and economic recovery—all discussed in accessible terms. Videos posted on the Web site expose the scare tactics that have been used to promote policies of austerity such as reducing Social Security benefits.
The Our Fiscal Security partnership outlines a “responsible path to recovery and prosperity” through the following core principles:
–Invest In America
–Protect Social Security
–Fix The Real Problem: Health Care Costs
–No More Tax Cuts For The Wealthiest
–Reward Work, Not Just Wealth
–Hold Wall Street Accountable
The partnership will develop ongoing research and analysis, provide expert commentary, and produce reports. In November, the partnership will publish a detailed fiscal blueprint to establish a policy agenda for a sustainable recovery, as well as a video that will explain, in easy-to-understand terms, how the fiscal outlook has deteriorated—and how we can stimulate job growth without cutting essential programs.
For more information, visit the Our Fiscal Security website.