What do you think of my economic policy?
If somehow magically I had all of the power to do what I want, this is what I would do.
1. I would do this bailout with massive oversight and strict limits on the companies. They have to account for every dollar, they have to give the government a stake in the companies in the form of stock equal to each dollar taken and their would be limits on executive compensation.
2. I would bring in contractors for 1-2 years into every part of the government bureaucracy to look at the process, org structure, approvals and cost management and lean out the agency where ever needed. Use Lean Six Sigma or some similar process to go through and make the government efficient.
3. I would push through a balanced budget bill without the loop holes of the last one. The government will not be able to run up a debt ever again. This includes paying for wars. The only exceptions would be for real emergencies and then only for 12 months.
4. I would push through a bill that would require that the national debt be paid off in full within 50 years at the rate of 2% of the initial balance plus any accrued interest for that year. The hardest part would be at the begining and it would become easier to pay off over time.
5. I would break up any and all companies that are “too large to fail” and restore the anti trust teeth. If a company fails then it will not destroy the whole economy. This would also include any monopolies.
6. I would put regulations in place to monitor and control any and all companies that have major influence of the nations economy. I.e. Energy, communication, financial, etc. no company or cartel of companies should be able to hold the economy hostage.
7. I would repeal NAFTA and CAFTA. I would replace the tariffs on imported goods or services and protect the workers of America and rebuild our manufacturing base.
8. I would invest in our infrastructure. I would put money into the energy infrastructure, roads, education, communication. I would invest for 20 years out not 20 weeks out.
I would do more too, but that is where I would want to start. I am curious what issues people have with this type of approach and why. What would you do differently?