09/20/2008 - Rob Dugger is a partner with an international hedge fund in Washington, DC. Before that he was a lobbyist for the banking industry, and earlier in his career he was an economist at the Federal Reserve. Dugger knows a lot about finance and economics, and he's very worried about the future of the U.S. economy. "We are on a fiscal path which is unsustainable," he explains. "We've borrowed more than we can afford and spent more than we should and as a consequence, not invested as much as we should."
Dugger is at the U.S. Chamber of Commerce in Washington, addressing an overflow audience in the building's biggest room. It's the annual conference of a group he helped create. They call themselves "The Partnership for America's Economic Success" (PAES).
The Partnership for America's Economic Success was created by businesses and foundations, including the Pew Charitable Trusts, which runs it. The goal is to document the economic impact of proven investments in young children. People have come from as far away as Alaska for the conference.
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