This is an excerpt of testimony delivered before the White House National Commission on Fiscal Responsibility and Reform on June 30, 2010
We need smart economic policies to reduce our structural federal deficit over time. But we are in danger of killing or weakening needed growth in the name of reducing deficits, and some of our deficit-reduction strategies are misguided. Plus, reducing the deficit cannot be our only economic policy goal. We also need to invest in the future.
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