Debt

Many people are concerned about the national debt, which has doubled in the last ten years and now stands at $36 trillion. There are three ways to lower the debt or at least keep it from rising. First is to raise taxes, the second is to lower spending and the third is to grow the economy. History has shown that raising taxes will not work, because when congress gets more money, it doesn’t apply that to the debt but starts new programs to get votes to get reelected. Lowering spending can’t work because congress will not cut programs, which would risk getting reelected so that leaves only the third, growing the economy. The first step is to bring back the manufacturing jobs, which were out sourced over the past 50 years. This means doubling the industrial base. The new facilities will use the latest technology supplemented by AI to increase productivity, which means lower cost per item produced. Reshoring means shorter supply chains and lower transportation cost. Maximizing fossil fuel production along with nuclear means lower energy cost. All of these efficiencies will be offset by higher wages paid to American workers. The goal is to have wages increase slightly faster than inflation, as was the case in the 1950’s and 60’s where inflation was 2% and wages increased at 4%. Many of these new positions will require people right out of high school and they will be trained on the job and many will be union jobs which include benefits. People will be able to afford to purchase the items they make which means they will be both producers and consumers. The country will move away from banking and finance to manufacturing and this will redistribute wages from the super-rich to the working people.