As an applied economist, I have come to the conclusion that the best way to move this economy forward is to change everyone's mentality from half-empty to half-full. Yes, this is a cliché (and an obvious one at that), but the average person in the U.S. has no idea what a debt ceiling, Greek debt crisis, S&P, etc means. All they hear is negativity and want to know how their life is improving.
A lot of talk on job creation and infrastructure has been floating around. While I agree infrastructure, especially really high profile projects (e.g. Hoover Dam, space race, or Erie Canal) would get people forward focused, I see some ideas and projects that could move immediately and maybe get the whole country excited.
1- $50 million grant towards the building of a new school in each of the 437 congressional districts (435 seats plus one for DC and one for territories). (total = $21.85 billion) There would be limited criteria:
• Grant must be for construction of a new or finishing out a currently facility and that the grants ONLY go towards construction materials, labor, and made-in-the-USA finishings within that academic facility.
• Each member of the House of Representatives would choose ONLY ONE project within his/her district.
• Project must be designated by November 1, 2011 and monies must be spent by December 31, 2012.
This will bring a project to each congressional district; would be an open competition with each congressional member determining the best project; would immediately finance or speed-up 437 construction projects throughout the country; and would go towards education which will have a long-term positive.
2- $1 billion flat grant award to the first car manufacturer producing, at a US facility, 50,000 gasoline powered family cars with an mpg of 50. Straight up capitalism here. First to the finish line gets $1 billion
3- $1 billion flat grant award to the first car manufacturer producing, at a US facility, 50,000 full size pick-up trucks with an average of 30 mpg. Straight up capitalism here. First to the finish line gets $1 billion
4- Finance one of three railroad projects.
A- The second rail tunnel under the Hudson. Yes this is northeastern centric and will take years to complete. But it is ready to go, it is a BIG long-term project that we all can point to, and when finished it will directly affect a large portion of our country offering better rail service from Maine to Florida.
B- A NJ Transit rail link from Stewart International Airport (Newburg, NY) to the main NJ Transit corridor into Manhattan. Stewart International is underutilized and better access would help increase flights and reduce congestion at the other NY area airports reducing cancelations and delays throughout the country.
C- The LoneStar Rail Line in Texas. While this would have limited impact outside of Texas, it can be done very quickly and have a huge affect on one of the fastest growing regions in the country. It would help speed commerce from Mexico and the coastal ports; and would have a peripheral positive effect on Amtrak.
These suggestions positively affect all congressional districts. They are short and long-term. Offers a tangible project the public can watch today and be proud of 50 years from now. These programs would be positive, tangible, and easy to understand. I hope things start turning around and wish you and your economic team all the best.
Comments? Questions? Feedback?