I think this administration should have resurrected the space-program thinking ... and applied it to today's needs. We need new energy sources that will cut/eliminate emissions and reduce dependence on foreign oil. The task is large, risky, and expensive ... just as the space program was. Private ventures tremble at such risk, preferring short-term wins over long-term solutions. Instead, I think our government could step in and do it, producing new technologies, solving problems. And creating jobs ... American jobs ... good jobs that (unlike Wal Mart jobs) would include health care as part of the package. Imagine that ... EARNED health care.
They should have, and still can. We already have non-fossil alternatives, and I would not call it risky, however it will indeed be a massive and incredibly expensive undertaking. Regardless, it has to and can be done. It will take trillions, but will be able to shift us away from foreign and domestic fossil energy and create sustainable jobs as mentioned.
For one, it has to be heavily subsidized to make it economical. Over time, oil and coal subsidies should be shifted towards the renewables to further encourage the shift. We have the technology and the resources, it's just a matter of spending the money to spur the markets. The investment opportunities are endless.
Consider a cap-and-trade or carbon tax to help finance. It will initially hurt cost wise, but will be deter emissions and increase the economic viability of a clean energy firm or investment.
And not to hijack the thread or post, health care is the other issue where deficit spending is necessary for real economic growth as well the the moral way forward. No one really wants to hear it, but health care, have only two real options. You can either completely publicize the insurance aspect, or subsidize the crap out of it to reduce costs, while raising taxes to do it.
The for-profit health insurance system is obviously unsustainable and bankrupting the country. Paying higher taxes to support and reform medicare is one approach to real health care reform.
Take the burden from the individual and employers. The taxes needed to pay for it will be offset by the decrease of household expenditures and firm operating costs. The increase in real income will either of course be saved or spent, which will result in economic growth and tax reciepts. Firms will be able to increase their retained earnings, investments, dividends, employee raises, options, hiring, product/service costs, etc.
Spread the insurance risk by expanding medicare so everyone pays in. The will also have to be supported by some education reform to encourage medical students into family practice and other high demand docs. This will help alleviate the use of hospitals for primary care and prevent the current high risk people from bankruptcy, which of course is never good for the economy. Also tort reform should be considered although still a fraction of health care costs.
Both will take a immense amount of money, but is a way to address long-run solvency.
