Third Way Perspectives
August 4th, 2014
Democrats’ intense focus on income inequality is understandable, but why not the same obsession over economic growth?
From 2001 to 2013, a span of thirteen years, average annual growth in the United States came out to a lumbering 1.8 percent. That is half the average annual growth rate we experienced from 1950 to 2000 —a period during which the middle class shined and the poverty rate declined.
Yes, the Great Recession contributed to substandard growth rates, but since 2001, the U.S. economy has exceeded 3 percent growth only twice. In the half century prior, we surpassed 3 percent growth per year 34 times. What was once “normal” growth is now a rarity.
Economists predict that America’s future growth rate will settle somewhere between mediocre and sickly. The Congressional Budget Office projects an average of 2.5 percent annual growth over the next ten years, while PricewaterhouseCoopers projects an average of 2.4 percent growth through 2020. Middling growth like that just won’t make an appreciable difference in the lives of average working people.
July 18th, 2014
The foreign policy civil war inside the Republican Party is spilling onto the op-ed pages. The latest battle began Friday when Texas Gov. Rick Perry tried to brand Kentucky Sen. Rand Paul as an isolationist for Paul’s stance on Iraq. The senator was quick to reject the label.
Why was the senator so eager to dodge the isolationist moniker? Because it’s electoral kryptonite with the American public, whom, despite what you may have heard, do not support isolationism. Americans are not asking for a retreat from the world. They’re a pragmatic public that’s rejecting neo-conservative interventionism, but they’re also opportunistic, engaging and diplomatic. And, they’re looking to Washington for a foreign policy that matches those traits. Read the rest of this entry »
June 16th, 2014
As expected, the Environmental Protection Agency’s (EPA) recent proposal to regulate power plant emissions sparked some mild hysteria on the left and the right. The right says the proposed rules will usher in an economic catastrophe. The left says they are just shy of salvation for the climate. You would think the EPA’s proposed greenhouse gas rules were a radical approach to a tough problem – and you’d be half right. Climate change is a very tough problem – but the EPA’s proposed solutions are far from radical.
In reality, the state-based approach taken by the agency is perhaps the most practical solution yet proposed to address climate change. That’s because it leaves it up to the states and utilities, who best understand their markets, to sit in the driver’s seat and use existing technologies and strategies to write their own emissions plans that maintain the affordability and reliability of their electricity. It’s a novel, practical approach. This is not just the view from Washington, D.C. Editorials across coal and oil country echoed the same sentiments. Read the rest of this entry »