Yahoo Answers is shutting down on May 4th, 2021 (Eastern Time) and beginning April 20th, 2021 (Eastern Time) the Yahoo Answers website will be in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.

nateums asked in Social ScienceEconomics · 1 decade ago

any ideas for fixing our economy?

http://www.usdebtclock.org/

i'm curious to see what kind of ideas people have on how to reverse this debt increasing trend. this is a non-partisan question, so please don't repeat political rhetoric you heard on the news from commentators or politicians. i can flip on the news if i want to hear those worn out party lines.

please refrain from criticizing anyone or any side if you would, i'm hoping to see constructive ideas, not petty name-calling and finger pointing. thanks ahead of time.

4 Answers

Relevance
  • Anonymous
    1 decade ago
    Favorite Answer

    Stop free trade. The USA became prosperous from tariffs on imports, not free trade. We do not have free trade anyway, because China is protectionist. The EU just put tariffs on Chinese imports, with WTO approval. Why can't we?

    Break up Goldman Sachs and JP Morgan, now that they've repaid their bailouts plus interest. Don't let them be "too big to fail" anymore.

    Stop the economic genocide of highly qualified and experienced professionals by H1b visas. Require that any worker who entered the USA on an H1b visa should be paid at least 25% more than other workers with similar qualifications.

    Stop illegal workers.

    You are correct, this is non-partisan. All of these problems have been ongoing through four presidents now. None of them seem to even care about the U.S. workers.

    Our debt has been increasing unavoidably because of our trillion dollar trade deficit. There is a trillion dollars more going out than coming in, and that necessarily increases debt. We had this exact same problem 200 years ago, and we solved it with a tariff on imports. Look up the Tariff of 1828. The tariff also wiped out slavery.

  • 1 decade ago

    I think the biggest problems facing our economy today are people's fears about their financial situations & the unemployment rate. We have to get people back to work, get the unemployment rate much lower.

    We also have to increase aggregate spending. If everyone spends a little bit more, the businesses will do better and hire more. This will increase the federal tax base, as well as help people pay down their own debt. Improving the debt markets revolves around lowering unemployment, and that revolves around higher consumer confidence, and more spending.

  • SDD
    Lv 7
    1 decade ago

    Private debt is being paid down. It is only government which has chosen to expand debt. The solution to that would be quite simple. Stop spending so much. For Congress, though,that is like telling a kid not to eat between meals.

    We have had 21 recessions in the last hundred years. Did you need to "fix" all of the others?

  • srura
    Lv 5
    1 decade ago

    Your economy is perfectly alright, no need to fix it.

Still have questions? Get your answers by asking now.