How to fix economy and create jobs

The question is, now that we are in deep economic trouble, have we learned our lesson so that we don't do it again? Our current economic problems were caused by irrational, adolescent behavior that our ancestors warned us about. First we shipped out our valuable and high-paying manufacturing jobs to China and service jobs to India to save a few short-term bucks as a nation. Then we built a culture based on extravagant consumer spending that was funded by irresponsible debt. Bottom line, we built a house of cards that has now collapsed and we are all scared to death.

That is the bad news. The good news is that we can fix it all and recapture our past greatness if we go back to what made this nation great. First we need to level the playing field between U.S. manufacturers and China (and others). By forcing China to play by the same rules as U.S. manufacturers (fair currency value, humanistic minimum wages, safe working conditions, environmental standards, an end to intellectual property theft, etc.), U.S. manufacturers can again be successful and those jobs can come back to the U.S. By rewarding U.S. companies that bring jobs back to the U.S. with targeted investment credits and lower tax rates, we can start rebuilding our core manufacturing strength and put more people back to work with better-paying jobs.

We need to get back reasonable control on lending and make investment risk more transparent. No more high-risk, high-cost debt that forces people to fail and hides risk from investors. People need to be able to make rational and informed choices. And we need to rapidly develop all of our own energy sources including nuclear, offshore oil, clean coal, wind, solar and all other reasonable domestic sources. Pursue all the options as rapidly as possible with three critical goals: 1) To stop buying oil from our enemies which puts us in danger and makes them stronger; 2) Make a rational and orderly transition to the cleanest sources of energy possible as those options become more realistic and affordable (without bankrupting us as a nation); 3) Keep the money and job creation for energy at home, which will make us stronger and puts people back to work.

Now we know that those politicians and experts that told us that an irrational consumption economy, high debt and shipping jobs to China were good things to do, were wrong. Dead wrong and it has cost all of us trillions of dollars in lost investments and savings and has put our whole future at risk. It is time to get back to good old common sense and American values. That includes hard work, prudent spending, a strong U.S. manufacturing base and responsible behavior. What a concept!

Randy Rossi

Grayslake