Monday, October 20, 2008

7 Ways the Next President can Improve our Economy

It is no secret that the American economy is under pressure, and politicians are scrambling to present every solution possible. It does not help that all of this is happening in the middle of an already important presidential election. Since there are long and short term goals involved, many people are concerned with what the next president can do to fix the economy. To help my blog readers make their own educated decisions, I have brainstormed and put together the following list of ways the next president can fix the economy.

1. Reputation Repair

With the stock market going up one day and down the next, good foreign investor relations need to be kept intact. The money we are spending on the bailout plan does not all belong to us, and it does not all go to American companies. A lot of our economic security lies in the hands of foreign investments, and the next president should work to improve these relations. We need to show investors that we can and will manage our money and policy better than in the past.

2. Prioritize Agenda

With so many important items on the agency, it is hard not to get caught up in too many things at once. History has shown us that problems ignored usually get a lot worse, and end up at the top of the list eventually any ways. Prioritizing his agenda early can save the next president both time and money and focus on getting the job done right the first time.

3. Improve Congressional Relationships

The relationship between legislative and executive branches has been negative for too long. If we could make this relationship more open and less attacking perhaps they might come to more well rounded, honest decisions. It is hard to get any bill passed into law with an unhappy congress, so keeping the relationships friendly and professional will benefit the country as a whole.

4. Reduce Outsourcing

With the tough economy, more and more companies are looking to outsource their manufacturing. However, the problem is that doing so can make the economy even worse. While it may be cheaper for a company to outsource, it gives valuable jobs to other countries. If the government could give these companies some incentive to produce their goods at home it would create more American jobs, and benefit the whole economy.

5. New Energy Policies

While both candidates recognize the changing climate and the attention it needs, these are only words. The winner needs to come up with a clear and concise energy policy that addresses foreign oil dependency as well as all of our individual dependency on oil. Exploring, funding, and distributing alternative energy will save the country billions in the long run and can create “green collar” jobs in the meantime.

6. Promote Innovations

By funding and rewarding technological and medical innovation and discovery, we can increase our countries competitiveness in the global market. These new discoveries will provide a service to all Americans who benefits from them, and by developing ways to reduce our dependence on foreign oil we can stop sending so much of our money to foreign producers.

7. Market Regulation

By closely monitoring trading activity and spending, we can help prevent market manipulation and hopefully prevent another mess like the one we are in now. This is an issue that both candidates have addressed, as the image of corporate “fat cats” has angered the American public. Senator Barack Obama was quoted as saying, "the American economy does not stand still, and neither should the rules that govern it. Old institutions cannot adequately oversee new practices. Old rules may not fit the roads where our economy is leading."

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