Report Warns Austerity Will Block Recovery, Risk Recession. Launches Campaign on Real Causes of Deficit
Members of "Citizens' Commission on Jobs, Deficits and America's Economic Future" Demand Equal Media Coverage for Middle Class Economic Agenda, Growth Strategy for Deficits
For Immediate Release: November 30, 2010
Contact: Alan Barber, (571) 306-2526
Washington, D.C.- A new report from the Citizens' Commission on Jobs, Deficits and America's Economic Future demonstrates that the White House deficit commission proposals are "fundamentally misguided" and take the economic debate in the dangerous direction of austerity. The group of well-known experts and leaders of civic organizations released their own "Report and Recommendations of the Citizens' Commission on Jobs, Deficits and America's Economic Future," on Tuesday, November 30.
The report, written by Jeff Madrick, a member of the commission and Senior Fellow at the Roosevelt Institute, with contributions from Dean Baker of the Center for Economic and Policy Research, Roger Hickey, Robert Borosage and Richard Eskow of the Institute for America's Future, Robert Kuttner of The American Prospect and Demos, and Robert Pollin of the Political Economy Research Institute, and additional work by other members of the commission.
The 36-page report contains a plan to maintain investments needed to speed up economic growth and produce jobs while lowering the federal deficit to a sustainable level in the long term. The report and links to related materials are posted at ourfuture.org/citizenscommission.
The release of the paper coincides with the announcement of a nationwide campaign to oppose the job-killing, middle-class-devastating austerity measures proposed by Republicans in Congress, President Obama's deficit commission co-chairs, and perennial deficit hawks such as Peter G. Peterson, and some Democrats.