How to Fix America | Foreign Affairs.
This is the exact debate that we should be having as the United States. Is finally starting to pull out of the Great Recession of 2008-09. With some real economic-growth even though officially we’ve been growing. For four years now but the Great Recession left such a big hole that there’s plenty. Left to do to fill it like rebuilding the country. Something that everyone except for perhaps Economic-Libertarians think we should be doing. But since it would cost extra money when Economic-Libertarians want. To cut federal spending they they’re opposed to it.
Progressives I guess would say that America needs to become like. Europe economically to move forward and create a more just society. Economically where taxes would be so high that it would be hard for. Anyone to make a lot more money than anyone else because taxes would. Be so high even if people and there are that should be making. More money because they are better skilled and are more productive. And then all of this new tax revenue would be spent by government on. The people’s behalf and Conservatives will say with a national debt and. Deficit at a certain point that we need to cutback and not just add any. New investments but to cutback from what we are currently spending. And that taxes are too high even though they are lower now then they. Were in the 1990s and 1980s when the economy did much better with. Lower unemployment as well as cut regulations even though the only. Regulations they seem to know what to cut have to do with the. Affordable Care Act and the Dodd-Frank financial reform bill even. Though again the economy wasn’t doing very well before those. Laws were passed in 2010.
The debt and deficit are issues and I’m not trying to get around that. But they aren’t the number one issues and for people who claim that cutting. The debt and deficit alone will lead to better economic and job growth. Have yet to show how that would happen because a pure austerity. Approach to economics has not worked in this country at least in. Modern times and hasn’t even been tried in this country in modern times. And the results are pretty clear as far as how they’ve worked in Europe. With only Germany being the only large European economy that has had. Any real economic and job growth in recent years but they haven’t had. An austerity policy but have invested in things that lead to economic. Growth and have created an economic environment allowing. The German private enterprise system to do very well there. What I’m in favor of is not adding to the current debt and deficit issues. In this country not making them higher. Bringing them down actually but as we do that we make the key investments and pay for them that. Lead to long sustaining economic and job growth.
I have a four-part plan that would get the American economy booming. Again where we can get back to 4-5% economic-growth. Which is about infrastructure investment around one-trillion dollars over 5-10 years. That would be paid for with something like a National Infrastructure Bank. That wouldn’t be run by Washington or the Federal Government. It would be national non-profit corporation that would prioritize. Infrastructure-projects all around the country. Seeking and getting input from people and officials all over the country. And then seeking private investors to pay for these projects. As well as reforming our Unemployment Insurance system as well as our job training system. Where low-skilled and low-income adults whether they are working or. Not would be allowed and even required if they are on any form of. Public assistance and are both physically and mentally able to work. Full-time would have the funds to finish and further their education so they. Can get themselves a good job and then a tax reform plan that. Encourages success and economic growth where individuals and. Business’s would still be able to keep most of what they earn. And if anything pay lower rates but where we would. Eliminate most tax loopholes to make us more competitive.
Finally and certainly not least the fifth part of my plan and its important. As well has to do with the debt and deficit and with new economic. Growth that’s being generated with more people working and more. People working in good jobs and not collecting public-assistance at all. We still need to make serious cuts and reforms to the federal budget. Which means the Federal Government doing less with less than it’s. Doing now but with the things that we need it to do they would do better. Like with infrastructure and funding job training and education. But we would no longer have a federal public-assistance system because the. States and localities and non-profits in the private sector. Would have more funds and responsibility to run these programs that we wouldn’t. Gut these programs like Representative Paul Ryan and the Tea Party. Want to do but that we would reform them and make them less. Centralized and more designed to empower people to get themselves on. Their feet and not trying to take care of them. And a defense budget that’s more about defending America and North America. With help from our allies, than trying to defend Europe and Arabia and the Far East as. Well were developed countries would take more responsibility for their own national-defense.
It’s not a question of whether America can be fixed or not. But the question is how to fix America. Because we are not a fallen giant that will never get back up. Some empire that’s collapsed but we are a weaken giant that simply. Needs to get back up and be America again. The leader of the free world when it comes to both economic and personal freedom. That Liberal-Democracy that people from all over the world want to. Immigrate to that no other country can claim. Which is what we need to get back to being rather than trying to copy someone else.