Houston, we have a problem--just as machines have displaced bank tellers, ticket-takers, and capital markets traders, they will soon rush through the economy taking jobs away from a growing population. These machines do not purchase items required to live, so their growing presence reduces the "multplier" effect previously experienced during the growth spurt from 1945 to around 1989. So, we need to change radically they ways in which Americans learn and we had better start soon. The kind of change required will prove impossible unless we break public sector unions and change tenure as well as other work rules.
When the Democrats and allied business groups wanted to rush through an amnesty plan they claimed was not one, we heard ceaseless refrains that our borders are secure. THEY ARE NOT--which is a flagrant abdication of basic responsibility. It is time, with just a portion of the vast sums we spend each year, to get serious about controlling our borders and sending home the worst illegal immigrants presently roaming free inside America. Afterwards, we should ramp up an outreach program to talented foreign nationals who wish to relocate to this country.
Enough with nuance and theoretical nicety--when a nation ends up in military conflict, it must fight to achieve decisive victory using all available means. There is no clean way to defeat an enemy and every reason, as our wise Founders knew so well, that the People embrace and then utterly support our fighting forces all the way well best the bitter end. Our President fails every one of us, across the political spectrum--he would not even make the junior varsity team today, given objective scrutiny, yet he remains Commander in Chief. Lord help America and what remains of the civilized world.
On a basic level, public sector unions make no sense at all--we, the people, are the employers of all public "servants" (now that is a quaint thought--bureaucrats and elected officials serve us and not the other way around!) So, Scott Walker is dead right--if we can rid the progressive state of Wisconsin of public sector unions, we can do so in New York (after a pitched battle), Illinois, maybe even in the People's Republic of California and everywhere else!
Obamacare is a disaster--we need to scrap it and start afresh with plans that recognize structural headwinds facing the health care system, and attack these sensibly and vigorously. We may get lucky with the Halbig v. Burwell review--more likely, we will fight until 20 January 2017 to replace this monstrosity (crafted by economic illiterates) with a market based set of true solutions.
America needs a Sovereign Wealth Fund capitalized with at least $1.0 trillion to start-I explain why.
We need a simple Federal income tax---so I outline one in this link. Let regions, states, and localities tinker with their own systems as they see fit. High cost, overly bureaucratic places will suffer while forward looking ones will thrive. This plan likely will collect more revenue than our existing system and it will have many indirect benefits including letting low income earners understand that government does cost them money, whether they feel it directly or not. In later posts, I will explain how we can close the deficit by changing the "business model" of government, to bring down its cost.
As happened after the crash of 1929, the United States will lead the way soon in tightening disclosure rules concerning publicly traded debt and equity securities. Existing disclosure standards, especially for government debt and for shares in large, complex multi-national companies are woefully subpar. We are headed towards an epic reversal of fortune in our financial markets--afterwards, public sentiment will turn against cronies in both political parties who believe, wrongly, they have to pretend the system was fixed starting in 2008. It certainly was not fixed, as the world shall soon see.
There is one area where I can support President Obama's aggressive interpretation of Executive Authority--he needs to move soon to strengthen the capital base of The Federal Reserve System, before it is too late. If he waits until U.S. dollar interest rates are forced upward by external events, America's realistic options to defend the value of the dollar may become excessively constrained. Face it, the Fed has painted itself into a corner--meanwhile, the world is erupting across numerous flashpoints.