Friedman, 2012 Election

All of this came to a head during the terrible 2000s. The housing/credit markets exploded, creating a systemic banking crisis and a painful recession, which coincided with our sharpening education deficit, which coincided with two wars and a big tax cut that dramatically worsened our national deficit. The result is a deep hole.

That hole requires us to now cut spending, raise and reform taxes; stimulate the economy by investing in infrastructure, research and teachers; spur more start-ups; and offer more people postsecondary vocational or college education. So, first, listen for anything like that diagnosis from the candidates.

 And, second, listen for a plan that rises to the true scale of that challenge, one that proposes job-creating infrastructure investments tied with a program to stimulate more start-ups (which have slowed) tied with a credible deficit-reduction plan — that would be phased in as the economy recovers — tied with a plan to get more Americans postsecondary education.