Erskine Bowles: Americans are being left behind. Here's how we fix it.
Erskine Bowles served as chief of staff to President Bill Clinton from 1997 to 1998 and is a member of the Committee for a Responsible Federal Budget. He recently co-wrote an opinion piece for The Washington Post with Henry M. Paulson Jr., former Treasury Secretary under President George W. Bush, and Melissa S. Kearney, director of the Aspen Economic Strategy Group. It is excerpted below.
Many Americans are being left behind by today’s modern, global economy, and they are justifiably angry about it. Growing numbers of people feel our economic and political systems are rigged against them. And it’s no wonder why.
Recent progress in low- and middle-income wage growth is a blip against decades of wage stagnation. Low unemployment masks the fact that millions of prime-age men and women are missing from the workforce altogether. Today’s adults are less likely to earn as much as their parents did, and they foresee the same fate for their own children.
Read the entire piece here.
"My Views" are works published by members of the Committee for a Responsible Federal Budget, but they do not necessarily reflect the views of all members of the Committee.