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Economic growth has virtually halted, living standards have been falling for 19 years, and the federal deficit is now running at $365 billion per year. While daunting, these are not insurmountable problems. The nation needs new policies to stimulate economic growth and fundamental reforms to improve our long-term competitive position. By redirecting our resources and our efforts, we can expand economic opportunity for future American generations - and regain our economic preeminence. This is the conclusion of a two-year study by 28 leaders in business, labor, academia, and government.
From public investment to healthcare and trade policy, the Cuomo Commission offers a tough-minded, realistic solution to the nation's critical economic and social problems. At the top of this new agenda is increased public and private investment, a massive infusion of capital to reinvigorate our lagging economy.
The Commission report argues that America is in a period of transition. The policies and institutions of the postwar era - shaped by the economic and social reforms of the New Deal and solidified into a powerful system by the Cold War - are no longer working well. National policies need to reflect the fact that economic strength is now as important as military strength was during the Cold War. America needs to evolve a new economic system capable of meeting the challenges of the global economy. This report provides Americans - and the next administration - with a comprehensive plan for fundamental change.
The Commission's major recommendations include establishing an Economic Security Council to focus the president and the federal government on economic issues; dramatically increasing federal public investment in infrastructure and job skills; creating new tax incentives for private investment; and implementing comprehensive reforms to control healthcare costs and provide access for all Americans.
Governor Mario M. Cuomo's Commission on Competitiveness consists of 28 leaders from both the private and public sectors. The Commission's first report was released in 1988 and received much critical acclaim. The first report predicted that, without a program to improve the nation's competitiveness, our economy would continue to decline. America's Agenda offers the nation its best chance for rebuilding economic strength and regaining prosperity.
