America this October is like a patient who has barely avoided a massive heart attack. We have no strategy for recovery, no strategy for economic growth, and no strategy for holding accountable those who have created this mess.
We’re also far from out of danger. If we do not create an economic recovery program, we will be facing another bailout next year.
To put it another way: We can mop up water all we want but if we don’t fix the leak we will simply have to keep mopping.
Similarly, we can pass a bailout, but if we don’t fix the economy we will have more and more bailouts.
America Must Get Back to the Fundamentals to Be Healthy Again
If we don’t develop an energy abundance plan, we will continue to send $500 billion or more a year overseas and our economy will continue to weaken.
If we don’t focus on making it easier for small business and for entrepreneurial startups, we won’t have the new jobs to replace the old ones that are fading away under the pressures of science, technology and the world market.
If we don’t get government spending, government regulations, government bureaucracy and government-mandated litigation under control, our economy will continue to weaken and we will be hit with rising inflation.
America has to get back to the fundamentals to become healthy again.
The Bush-Paulson Economic Strategy Has Been a Disaster
The Bush-Paulson strategy has been a disaster and has made things more difficult.
This spring, the $152 billion stimulus bill was wasted money. It should have been invested in science, technology, energy, infrastructure and pro-jobs, pro-savings tax cuts.
Imagine repealing the business killing Sarbanes-Oxley bill, eliminating the capital gains tax, going to 100 percent annual expensing for small businesses, and other practical steps to create jobs and generate wealth to mop up the bad debts.
Imagine half of the $152 billion invested in clean coal, biofuels, solar power, wind power, nuclear power, natural gas vehicles, hydrogen vehicles and drilling for oil and natural gas. Imagine the other half being invested in the National Institutes of Health, the National Science Foundation, and in a space-based air traffic control system that would increase capacity in the Northeast by 40 percent. That would have been a long-term investment strategy instead of a wasted stimulus package.
OK, POP QUIZ - Who said it, TODAY??
