- Jul 17, 2002
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What does the USA need to do in order to prevent economic collapse?
These are my thoughts...
1. Drastic reform of its public education system. Strict standards for science and math. Strict standards for discipline. No more coddling of students - fail them if they don't meet standards, only gives an "A" to those who are clearly excellent. Introduce competition.
2. Reform the tax system to encourage savings and discourage consumption (consumption taxes). The USA current fuels the growth of other economies like China through consumption and it does so at the expense of its current accounts.
3. Reign in government spending. Deficits are fine so long as they are financed internally. Currently, the US debt is largely being financed by China (a potential enemy).
4. Stop nation building. It is too expensive. Crush your enemies and then either take over completely or leave - no more of this infrastructure and democracy building.
These are my thoughts...
1. Drastic reform of its public education system. Strict standards for science and math. Strict standards for discipline. No more coddling of students - fail them if they don't meet standards, only gives an "A" to those who are clearly excellent. Introduce competition.
2. Reform the tax system to encourage savings and discourage consumption (consumption taxes). The USA current fuels the growth of other economies like China through consumption and it does so at the expense of its current accounts.
3. Reign in government spending. Deficits are fine so long as they are financed internally. Currently, the US debt is largely being financed by China (a potential enemy).
4. Stop nation building. It is too expensive. Crush your enemies and then either take over completely or leave - no more of this infrastructure and democracy building.