The only change I’d urge is to rely more heavily on deficit financing for proposed infrastructure investments.Clinton summarized her views on using progressive tax increases to pay for new, permanent spending (like investments in early childcare and education) in a recent interview withVox: “I have put forth ways of paying for all the investments that I make, because we do have the entitlement issues out there that we can’t ignore and I think we can pay for what we need to do through raising taxes on the wealthy.”Critics might say that paying for new proposals isn’t enough and that even current fiscal policy is unsustainable. But the Congressional Budget Officeprojects that this year’s deficit will be under 3 percent of total gross domestic product, a levelconsistent with a stable debt to GDP ratio. Further, recent years have seen a rapiddeceleration in health care costs, the largest drivers of long run projected deficits by far.
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