Faster growth is the key to tackling America’s debt crisis
Summary
John R. Dearie suggests that the United States can better handle its growing national debt by increasing economic growth to 3.5 percent, a rate seen after World War II. He believes this can be done by supporting new businesses, investing in technology and science programs, passing the INVEST Act, and improving immigration rules for skilled workers.Key Facts
- The U.S. is facing a rising national debt problem.
- John R. Dearie recommends faster economic growth as a solution.
- The target growth rate is 3.5 percent, similar to the post-World War II period.
- Strengthening entrepreneurship means helping new businesses start and grow.
- The CHIPS and Science Act funds technology and science development.
- The INVEST Act is new legislation aimed at supporting innovation.
- Reforming high-skilled immigration rules means making it easier for skilled workers from other countries to live and work in the U.S.
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