So here are a few suggestions I have for Barack Obama – The New Deal:
1. Infrastructure – Implement your plan for rebuilding the infrastructure of America. Fixing roads and bridges is not sexy but it will create over a million new jobs. It’s been over 60 years since our forefathers developed our transportation system. Now is the time for a complete overhaul.
2. Alternative Energy – Don’t delay! Now that oil is under $60 a barrel we, as a nation, will have a tendency to think the energy issue is over. Don’t bet on it. It’s far from over! It is only a matter of time before we see oil soar to over $200 a barrel.
3. Financial bailout package - Support it but make sure the money is spent judicially. This will provide stimulus to the financial markets.
4. GM, Ford & Chrysler – This is a tough call. They will most likely need at least a $100 billion, not $25 or $50 billion as originally indicated to be bailed out. But the Big Three automakers (as they used to be called) represent the core of America, especially to the baby boomer generation. If you do not save them the ramifications will be so great that I fear our country would be shaken to its roots and their demise would trigger the next “great depression.”
5. Health care - save this one for your next term – you have enough on your plate.
6. Capital Gains and Corporate taxes - We all know it’s coming. Just try to delay it so all of us business owners can get back on our feet. Also, your proposed exemption for new business startups is an excellent idea that can be implemented immediately.
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