America suffers not just from a yawning fiscal deficit but also from a terrible backlog of needed investments, including for research and development, education, and infrastructure. It, too, is a deficit that threatens America’s long-term prosperity, writes Joe Kennedy in The Hill. America should make intelligent investments that boost the nation’s growth rate and thereby lower its debt relative to the size of the economy. If the two parties in Congress can agree on funding projects that truly will boost long-term economic growth, then raising the budget caps solely to fund these programs would be a sensible choice.
