CAP en Español
Small CAP Banner

A Powell Doctrine for the Economy and a Grand Bargain

  • print icon
  • SHARE:
  • Facebook icon
  • Twitter icon
  • Share on Google+
  • Email icon

As President-elect Barack Obama prepares to take office, he faces a nearly unparalleled economic challenge. Instead of inheriting projected budget surpluses as President George W. Bush did in 2001, Obama will inherit a projected deficit for 2009 approaching $1 trillion. On the other hand, Obama is also inheriting an economy that is badly in need of both massive stimulus and major long-term reforms in areas such as health care, climate change and education.

Some may call for the new administration to exhibit fiscal discipline by being cautious and careful on fiscal stimulus while lowering ambition on the magnitude and timing of major initiatives on health care, education and climate change.

This would be the wrong approach. Rather than aiming lower, the right answer is a grand bargain on fiscal policy that aims higher by combining a powerful “Powell Doctrine” fiscal stimulus and a bold approach to crucial priorities with a commitment to take on our greatest long-term entitlement challenges.

Read more here.

To speak with our experts on this topic, please contact:

Print: Liz Bartolomeo (poverty, health care)
202.481.8151 or

Print: Tom Caiazza (foreign policy, energy and environment, LGBT issues, gun-violence prevention)
202.481.7141 or

Print: Allison Preiss (economy, education)
202.478.6331 or

Print: Tanya Arditi (immigration, Progress 2050, race issues, demographics, criminal justice, Legal Progress)
202.741.6258 or

Print: Chelsea Kiene (women's issues,, faith)
202.478.5328 or

Print: Beatriz Lopez (Center for American Progress Action Fund)
202.741.6255 or

Spanish-language and ethnic media: Rafael Medina
202.478.5313 or

TV: Rachel Rosen
202.483.2675 or

Radio: Sally Tucker
202.481.8103 or