The article discusses America's critical choice between austerity measures that may further jeopardize the American Dream and a proposed strategy called Raising the Third, aimed at empowering disadvantaged groups economically. It highlights that a significant portion of the population lives paycheck to paycheck simply because they lack access to capital and opportunities, not due to lack of talent or drive. By investing in this demographic, the article argues that GDP growth could be increased by 2% to 3% annually. It emphasizes a transformational approach, akin to post-World War II expansion, by focusing on inclusivity and innovative training for future job markets.
America stands at a crossroads; we can choose between slashing services leading to a fiscal crisis, or we can opt for a path of expansion and inclusion.
The approach I propose, Raising the Third, aims to economically empower the bottom one-third of Americans, turning them into stakeholders and owners.
Historically, America grew by building from the middle out. The middle is now shrinking, and with it, our shared aspirations are at risk.
Imagine empowering 100 million Americans overlooked by society to actively participate in the economy as producers, changing the trajectory of our fiscal health.
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