According to a
Time magazine article, during his keynote address at the Truman National Security Project conference in Washington D.C. Friday morning, Martin O’Malley said, “Ultimately, the source of America’s global strength is our own prosperity at home ... No fighter jet or troop battalion will keep us as safe as a vibrant economy, a strong democracy, and a growing middle class. Only with a stronger and more inclusive economy can we maintain our security.”
So Mr. O'Malley agrees with Donald Trump that a strong economy on US soil is even a question of national security.
According to the article, he also calls for separating commercial and investment banks, which I agree with and goes against the Clinton-era repeal of Glass-Steagall, and expanding Social Security. Donald Trump has also called for making Social Security and Medicare more robust.
Mr. O'Malley also calls for raising the minimum wage to $15 an hour.
Maybe.
But in isolation, that is simply demagoguery and would probably lead to a commensurate increase in inflation with no gain in real wages, so it would just be more money illusion and not solve anything real.
A policy to strengthen the economy on US soil may entail higher inflation, but if done properly it may also entail more efficient domestic productive and sustainable enterprises, higher real interest rates and higher wages, and so higher incomes among average people.
Donald Trump also proposes constraints on immigration and trade. That may be one path to higher incomes among average people on US soil.
Taken together, that seems like a coherent set of policies which, though not without costs, could actually work.
Discuss other realistic, coherent sets of policies that could lead to a stronger economy on US soil, featuring higher real incomes among average law-abiding people.
[Crickets]
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