How to rebuild the economy? Your ideas, please.
@valentinesdiner (1214)
United States
January 1, 2010 6:42pm CST
OK, you be Mr. President... with the manufacturing sector in shreds and banks not ready to lend and the stimulus not as stimulating as you'd hoped and some countries wondering whether or not to buy MORE US treasuries - - what next?
Your turn, folks, what would you do?
4 people like this
7 responses
@anniepa (27955)
• United States
2 Jan 10
We need to start actually MAKING things again! I remember up until maybe the 80s there were at least a dozen garment factories in my small town alone. I worked in three of them before I became a letter carrier and at two of them the money wasn't all that bad and we even got health insurance. There was a time when no matter how bad the economy was there were always jobs available at the sewing factories. I think we need to make it harder for companies to send all of their jobs overseas and give incentives for people to buy American made products.
Annie
2 people like this
@shewolf52002 (1214)
• United States
3 Jan 10
Yes I agree here!! American Made needs to stand for something again.
1 person likes this
@thegreatdebater (7316)
• United States
2 Jan 10
I agree with you 100%, we need to make it FAIR for our corporations to due business here, and overseas. Right now our trade agreements favor countries that only want to send us their crap, and charge ups huge tariffs to take in our quality products. We need MIRROR TRADING, so that we can all be on the same playing field, and force countries like China to decide if they want to do business with us or not.
2 people like this
@uath13 (8192)
• United States
2 Jan 10
Abandon ship....
The U.S. has been sending all it's jobs overseas. Everything we buy now is made in some other country. What does the U.S. actually make anymore? We've become nothing but a country of distributors & consumers. At some point the companies will realize they can cut out the middle men , send their junk directly to the stores , take the last of our money & leave us high & dry. Unless the U.S. learns to actually produce stuff for themselves & stop sending our money overseas we're sunk.
1 person likes this
@irishidid (8687)
• United States
2 Jan 10
I don't usually agree with you, but you are spot on with this one. We need to become a productive country like in the past. The only way to become a great nation again.
1 person likes this
@uath13 (8192)
• United States
2 Jan 10
Sadly we've all but killed off our craftsmen. They couldn't compete with the cheap auto obsolescent products from overseas. People stopped buying QUALITY & started buying cheap QUANTITY products. Break it...replace it, break it again.
I prefer our old well made antiques myself. Those cheap ( made in China ) tools don't last a week yet the ones I inherited from my great great grandparents farm are still going strong.
1 person likes this
@bobmnu (8157)
• United States
2 Jan 10
The first thing I would do is cut the taxes on investments and dividends so that the more people would invest in this country. This would generate more revenue to the government.
Then I would look at why business are moving their business over seas. The first thing we would find out is that it is over regulation and too much red tape coming from the government.
I would look to be more energy independent by opening up more oil, gas and coal exploration. This would create many jobs and restart the economy at the same time you are increasing revenue to the government.
I would also cut the size of government. We need to look at what is required by the constitution and what could be eliminated.
To recover form a recession you have to create jobs in the private sector. The Government can not hire the people and and pay them by printing more money. The government can not spend their way out of the recession.
1 person likes this
@bobmnu (8157)
• United States
2 Jan 10
I would agree with most of what you say. Business is moving out because of high taxes on business (among the highest in the world) and the restrictions the government puts on business. There are those who care more about a rat or spider than the lives of the American People. When the government is telling business what and how to build things and who they can do business with it is going too far. Government regulation is driving up the cost of business and it is driving business out of the country. Several years ago business were moving from the industrial north to the south - the reason lower labor costs, lower state taxes, right to work states, lower real estate prices and a friendly business environment. It is all about the bottom line and making a profit. If a company can not make a profit then it can no longer do business. If they charge too high a price then people will not buy. It is called the Free Market and it works.
2 people like this
@thegreatdebater (7316)
• United States
2 Jan 10
Bob, the first thing you need to do is figure out what really happened in both bubbles and fix the problems so people feel secure in investing. You also need to get rid of these loop holes that allow for high fees and trades that only make the trader, and firm money.
The reason businesses are moving overseas is because of our one sided trade agreements, and the fact that we are a global economy so businesses have no need to worry about where they build their products, or fear what the workers in the country they produce their product are treated. Corporations today could care less about the damage they do to world, as long as they can push their stock price higher, and management gets their golden parachute everyone is happy.
I agree that you need to create jobs in private sector, but the problem is that more and more companies are creating jobs in foreign countries, and forgetting about their economic base. China is now starting to build more products for their own people to purchase. If they decide to do this, they could take over every factory, and throw all of the US companies out on a moments notice, keeping all of the technology and built it themselves.
From what I see you think that government should get out of the way and let business do what it wants. The problem is that we have had 8 years of that idea, and look where it got us!! Government needs to step in like many in the CIA have said for years, and reconsider trade agreements, and bring in Mirror Trading. This would help everyone involved, and would bring the entire world out of the repression. The problem is that you would have a huge uproar in China, and could start World War III.
1 person likes this
@thegreatdebater (7316)
• United States
2 Jan 10
You are correct that business will find the cheapest way to make products, and the easiest as well. The problem is that our trade agreements with countries like China make so that they can export products to our country cheap, but can charge huge tariffs on products that we import to their country. The easiest way to solve this problem is MIRROR TRADING, but other countries want nothing to do with this at all. The realize that if we were to force them into this, they would lose control of their dictatorships, and their own countries. This would help the entire world, and would actually help businesses here in the United States by allowing them export to these countries. I hope that Obama will finally take this great idea, and put it to work so that the world can grow out of this repression, not just China. By the way, the US doesn't have the highest taxes, I was just listening to a story on CNBC about Africa, and there are many countries in Africa where their tax rate is legally 50% + (not to mention the protection fees, and extortion, and yet foreign corporations are investing billions including the Saudi's who are trying to buy an entire country for it's only resourse: Cheap Labor).
@laglen (19759)
• United States
2 Jan 10
First of all, I would stop printing money! Then I would close down the IRS, and create one flat consumption tax. I would then open up our energy resources and get Americans back to work through PRIVATE companies.
I would look at the various government programs and see what can be cut immediately. I would also stop all mandates to states, return their sovereignty and let them see what they can afford.
I would return education to the states and leave healthcare the heck alone. I would beef up defense and infrastructure and cut out the endowment of the arts and other ridiculous federal programs. If California wants a new museum, then California can fund it.
I would slowly start working people off entitlement programs with the exception of Social Security as this is a program that people specifically paid into to recieve payments in their golden years.
I would stop all bail outs, tarp funds etc. If the bank is failing, then the bank is failing.
I would immediately begin paying ALL debts and have a pay as you go program. there would be NO earmarks, pork or what ever you want to call it. If one state gets it, they all do.
Well these are just off the top of my head! I am sure there would be more.
@shewolf52002 (1214)
• United States
3 Jan 10
AMEN, Hallelujah, I SECOND THAT and any other colloquialism you can think of!!! The only thing I would add is they need to cut government officials paychecks!! Everyone else in the country is feeling the pinch, let the leaders feel a bit of it too. You have my vote Laglen whenever you decide to run for president.
1 person likes this
@thegreatdebater (7316)
• United States
2 Jan 10
I think that it starts with reviewing our trade agreements with foreign countries, and looking at what we produce as a country, and how we can grow that way. Second, you have to find a way to fund small business either with tax incentives, or low interest loans. Then you have to rein in the banks, allowing people to put their money back in them so they can fund more lending. That should do it.
@lilwonders456 (8214)
• United States
4 Jan 10
Put on my big girl pants on and make some hard decisions.
1. Cut the budget. The government spends and wastes too much. There are some programs that are "nice to have" but are not a "gotta have". They need to go until we get all our debt paid off.
2. Get rid of the budget deficit. Balance the check book. Everyone in America has to live ona budget...so should our government.STOP spending more than we have.
3. COme up with a REAL plan to pay off the national debt and then actually follow through and do it. It would take years to do....but they ahve got to start now.
A good start would be stopping all foreign aide and payments to the UN until the national debt is paid off.Use that money to pay down the national debt. IT is US tax payer dollars. It should be used to help the american people and this country BEFORE it is used to help the rest of the world. That alone would put a HUGE dent in our national debt in just a few years. I have no problem wiht helping other countries in need....but this country and its citizens are in real trouble and we need to fix it now...we are not in a position to help others right now.
4 Become more aggressive in the international job market. Just about all companies are international now. They will build and grow (therefore creating jobs) in whatever country offers them the best deal. We need to start offering them MAJOR incentives to operate and grow here in the US.
5. Make it easier for small businesses and poeple wanting to start small businesses in this country to get started and grow. It will create jobs.
To be honest that is what our economy needs...more jobs. Tons of jobs.
So here it is
fiscal responsibility
Paying off debt
Creating a climate in this country that encourages massive job growth.
1 person likes this
@Hatley (163776)
• Garden Grove, California
2 Jan 10
valentines diner okay first I will work with big corporations and small ones and even make some corporations but my idea will be to put all the people thrown out of work back to work. once back to work make or force if necessary apartment owners to help the newly hired to rent apartments that do not require twice the normal range of most peoples salaries, cut down the rents and make up by renting to a lot of newly hired people.it can be done FDRoosevelt in the first depression did it, now its up to Obama to do it now, at once,immediately.As President I will see this is done and when it works people will spend more the economy will be coming up and the jobless and homeless will dwindle to just the drunks and the addicts and the mentally ill. please God do get someone to do these things, I have a personal interest in all this.