I was one of the few members of Congress who ever worked as an economist. I also started a company that went public and is traded on the New York Stock Exchange. I understand the economy, and what it needs to recover.
Our country can no longer afford to let the rich get richer through tax breaks, at the expense of the middle class. It has been more than a decade since the Bush tax breaks for the rich were enacted. There were 110 million private sector jobs in America in 2001. There are 110 million private sector jobs in America today. Despite a population increase of more than 25 million, there are no more private sector jobs today than when the Bush tax breaks for the rich became law.
I pointed out on national television that America has the fifth most unequal distribution of wealth in the world. That needs to change. The only way that everyone will be better off is if everyone is better off.
When the economy recovers, we need to tackle government spending and return to the days of budget surpluses, like the ones we created under the Clinton Administration. But first, we need to ensure that we avoid another recession, and that there is a job for everyone who needs one.