The Foundation for Growth and Prosperity Revisited

(White House) Today at Northwestern University, the President revisited the foundation for growth and prosperity that he unveiled more than five years ago, in April 2009, at Georgetown University. In that speech, he called for investing in new energy and technologies, expanding access to education for the country’s workers and children, launching health care reform, managing our nation’s finances, and putting in place financial reform and a stronger system of consumer protections.
It’s worth taking this moment to look back at the distance the economy has come since 2009, and the work left to do to build a more durable economy for the future. When it comes to managing our nation’s finances, we face a very different picture than we did five years ago. As the chart below shows, under the President’s leadership, the deficit has been cut by more than half as a share of the economy, representing the most rapid sustained deficit reduction since World War II.

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