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| Yes | 68% | 324 votes | Total: 480 votes | |
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Yes
Created on: June 07, 2007 Last Updated: March 26, 2008
Healthcare costs are the biggest challenge faced today within the US economy, while energy security is the biggest contributor to the burgeoning US current account deficit. If the greatest internal and external challenges faced by the economy are addressed, the results can only improve US competitiveness in the global economy. This is not an argument, it is a fact. The debate should be as to how much will the improvement be, once these two issues are addressed.
Healthcare forms one of the biggest expenses that are faced by the individual as well as the firms. Some estimate that every other bankruptcy in US is related directly or indirectly with healthcare costs that are self insured by the firm for its employees. The per capita healthcare costs of a US citizen are over $ 5000, compared to less than $ 3000 everywhere else in the world, including all members of the OECD and G-8 countries. More importantly, the health care costs are rising further, and showing no signs of stabilizing. They threat to make the whole US economy uncompetitive. On an average the risks faced by a US firm on the account of uncertain future healthcare commitments for its employees are greater than any firm anywhere else in the world, and that itself is a challenge worthy enough for the next US President to take as his top priority.
Energy security poses a challenge in many ways. Firstly, at the macro-economic level, rising price of oil have contributed most to the US trade deficit, putting pressure on US dollar, threatening its depreciation, and raising speculation of recession. At the Micro-economic level, it threatens to raise costs of input for all firms including those in the service sector. Its effect on monetary market arise indirectly by way of inflation, which in turn may pressurize the Federal Reserve to maintain high interest rates or even raise them further, thereby again raising concerns of a possible recession. But the greatest concerns arise from the long term impact of price rise of petroleum goods, the risks of possible supply interventions from threats like terrorism and international conflict, as well as the greater assertiveness of OPEC and its attempts to drive oil prices northwards, all of which pose a huge risk for the economic well-being of US economy, which comprises nearly 30% of global GDP today.
Neither of these two challenges are easily manageable, and even the most well meaning leadership will require a long vision, tactful strategies, cost consciousness and great political maneuverability to achieve any significant success. The battle for controlling healthcare costs will have to be fought on domestic turf, and may include measures like refining managed care packages, higher co-payments, selective public healthcare, greater role of personal savings in financing healthcare and curbing supplier induced demand. On the other hand, the battle for energy will depend to a greater extent on the innovative abilities of the market to improve feasibility of using hydrogen as an alternative fuel, reducing cost of solar energy and somehow connecting the two. Till that happens, there can only be efforts to improve technology further to improve energy utilization. Ironically, higher costs of oil, while threatening the worst, will also be the most critical stimulus to innovation and may actually hasten its solutions.
Learn more about this author, V. Kumar.
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No
Created on: April 29, 2009 Last Updated: May 17, 2009
The title of this article is so full of compounded bad economic and political logic that it is essentially propaganda. It would take a genius at economics, ecology, religious reform into a priesthood of egalitarian believers, philosophy, cosmology, science, mechanics, design in engineering and the power to persuade the citizens and get political objectives accomplished in spite of resistance from concentrated wealth establishments and their subordinates-and America doesn't have one of those in the White House presently nor is it likely to in the next century. America has its own fate in its own power yet it cannot apply political and economic intelligence and intention at all.
The next President of the topic reference could be Obama now or the 2012 0r 2016 guy-at any rate the best immediate way to increase U.S. global competitively would be to take a course of national self-interest with a pervasive rectification of political method. The Congress should want to pass several Laws that would limit all immigration-legal and illegal to 250,000 annually. create a M.I.T.I. style board to find ways to invest in American businesses that will eliminate trade deficits by inventing better products manufactured domestically or methods of supplying the need for imports. Generally supporting super-conductor applications and developments along with home produced electrical energy-getting off the grid to cut the sucking networks of globalists attached to all American wallets a little, would be a start.
The Government itself is divided and uncertain about what policy it has a right to take nor an obligation to accomplish, so I will clarify a couple of points, at least, on that subject. The Government has a history of setting social standards and regulations for infrastructure and mass produced items. Sewage systems, building codes and highway construction must meet government criteria to be allowed to go forward. Free enterprise must meet those standards to sell product in the United States. When the people have compelling social interest in preventing harm to themselves or their environment the government is expected to intervene with quality and control regulations. Such is now the case with the auto industry and its polluting and economically harmful effects on the nation's citizens-unfortunate ly the Government is being offered a controlling interest in General Motors with the U.A.W. getting about 39% and ten percent targeted to go to settle old debts-what will the U.S. Government do with an auto manufacturing company that produces inefficient cars?
The Government General Motors Company should become a laboratory for the introduction of new electric and alternative vehicles to the nation. The New G.M. should produce limited runs of leading edge transportation platforms for two or three years then discontinue those lines and contract with others to produce spare parts. A Government G.M. could be an innovation engine working to continuously lead automobile design to new frontiers-with the advantage of not needing to produce a large profit. Free enterprise can benefit from the new vehicle technology produced and distributed generally. Also some of the federal stock might be given to social security account payments in case it makes a profit.
With an auto manufacturing company the government highway fund steering committee can design lightweight alternative transport platform lanes and coordinate the two different business investments ameliorating the risk that prevents car manufacturers from producing electric cars that can be directly recharged from power lines in interstate highways, or collecting electrical power from highways with solar voltaic surfaces or input with wind power towers along the Rocky Mountain highways. If the cars were produced and no highways were made to support in highway power lines it would obviously be harmful and the same applies to highway builders investing in placing power lines in highways. Health care costs cannot be blamed for the lack of savings or investing in American enterprise...the government hasn't done enough to offset the outsourcing of jobs to China and elsewhere or insourcing immigrants in too large of numbers to the United States. Neither has the government of the United States sought to change the way energy is used and get people off of the grid instead of ever more reliant upon it.
Networking infrastructure is one way to go about it historically yet a discrete local and individually independent approach is a better way to relieve Americans from sending their money to global corporations for fuels at home and in cars. Electric toilets and home solar water heaters, bathwater recycling filters and solar photon collecting paints and roofing materials, home electrical wind and solar power collectors along with home fuel cells and hydrogen electrolysis fuel production, super-conductors in interstate highways for storing electricity for auto and home use-these are directions the government should take.
Government must set intelligent criteria for the application of technology in the United States that affects large scale economic and environmental status-certainly it is a government right to eliminate public debt, increase the well being of the citizens, the environmental ecological health and national security by setting standards that require change of the way things are done in business in the United States. Usually governments lack sufficient reason and contents of reason to react to environmental and economic challenges a priori in such a way as to preclude the more historically natural remedy to economic or environmental enormities with chaos, war, plague and the erasure of debt though irrational mass social behavior.
Learn more about this author, Gary C. Gibson.
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