Presidential candidates who emphasize closing the federal spending deficit are ignoring a more important investment deficit in our infrastructure, our schools and in other fundamentals of future growth and shared prosperity, argues William Spriggs, chief economist for the AFL-CIO, in this Burning Issues segment.
“We cannot keep building up this deficit for our children,” he says in the interview, referring to this investment deficit. He adds that we need to increase spending in these areas to speed up economic growth, create more jobs and place upward pressure on wages.
“My hope out of this election is that politicians understand that the economy is supposed to be the servant of the people,” he says. “Americans don’t want to go back to some middle road where we repeat what we’ve been doing.”