WASHINGTON, D.C.—Progressive Policy Institute Chief Economic Strategist Michael Mandel released the following statement after President Obama’s State of the Union Address:
“The Progressive Policy Institute strongly supports many of the proposals and thoughts advanced by President Obama in tonight’s State of the Union address. We agree with his emphasis on ‘concrete, practical proposals to speed up growth, strengthen the middle class, and build new ladders of opportunity into the middle class.’ Growth should come first on the progressive agenda, not redistribution. Increasing the minimum wage, as the President proposed, is a good idea, but only as part of a larger high-growth strategy.
“Equally important, we believe that the President is on the right track when he highlights innovation, investment, and technology. PPI’s research suggests that tech growth enables progressive goals, boosting jobs and creating opportunities for blacks and Hispanics. Indeed, from 2009 to 2013, employment of blacks and African-Americans in computer and mathematical occupations grew by 41 percent and employment of Hispanics in computer and mathematical occupations rose by 33 percent, far outpacing the overall growth of jobs over the same stretch. That’s why we were gratified to hear the President announce a deal with tech companies to help connect many schools, making it easier for inner city and rural students to take advantage of the opportunities created by growth.
“We applaud the President’s observation that ‘first-class jobs gravitate to first-class infrastructure.’ Studies released after the financial crisis confirm the economic benefits of spending on roads, highways and bridges. The country, states, and localities will gain in multiple ways from an increase in infrastructure spending.
“We appreciate President Obama’s willingness to tackle tax reform to lower rates for businesses that create jobs here at home. However we note that there are a variety of ways to accomplish this goal, some better than others.
“Finally, President Obama is right to make increasing college access and affordability a top legislative priority. Record levels of student debt at a time of historically low real earnings and high underemployment threaten to saddle an entire generation. It is clear the current structure of postsecondary education is no longer working.
“America needs a high-growth strategy. President Obama’s proposals would take some big steps in that direction.”
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