Asserts the moderate-liberal Democrat in New York City and former Congressman: "President Obama should focus on three key priorities when re-elected: First, he should offer Simpson-Bowles [the 2010 deficit reduction proposal] as a template for long-term deficit reduction and broad tax reform. This would entail compromising with Republicans and supporting a lower corporate tax rate that keeps marginal rates constant. It also means closing loopholes enjoyed by relatively few taxpayers (such as capping the mortgage-interest deduction at $500,000, and scaling back the charitable deduction) while standing firm to protect middle-class tax cuts and health care for the working poor. The president should call for raising the Social Security retirement age and means-testing Medicare benefits to bring entitlement spending under control."
He continues: "Second, it's time for a moratorium on new regulations. The business community — especially overregulated industries like broadband and energy — are poised to unleash a new era of American growth. But businesses fear what government might do to them. Fear is bad for the economy. Certainty is the antidote to fear. The president has the power to provide that confidence."
More: "Finally, President Obama should establish a public-private Infrastructure Bank. From new airports and subway lines in places like New York to new school buildings, bridges and technology incubators in places like Memphis, Tenn., and Cedar Rapids, Iowa, we can achieve the twin goals of creating jobs and rebuilding the country's dilapidated infrastructure. And by harnessing the best of the private sector alongside the investment of taxpayers, we can do this efficiently and quickly."
Harold Ford Jr.: "For Fiscal Health, Obama Should Embrace Simpson-Bowles If He's Re-Elected"
