President Obama believes that the way back to a healthy economy in the next 4 years is to build the economy from the middle class out. Our economic engine is best driven by demand for goods and services from a healthy and prosperous middle class. To this end he has laid out a specific 7 point plan to help us create jobs and develop middle class security. Your article indicating that the USA may soon be the largest producer of oil in the world and the news that a group of prominent CEOs feels the deficit can only be fixed by a combination of spending cuts and tax increases give credence to the president's plan.
The 7 point are as follows: First, revive American manufacturing by standing up for fairness in the global market place, ending tax credits for companies that send jobs overseas, giving tax credits to companies that bring manufacturing jobs back here, reforming the tax code, and creating a new network of 15-20 manufacturing innovation institutes to bring businesses and research universities together to see to it that new products are developed and produced here. Second, developing energy resources in America by opening up new areas for drilling, investing in renewable energy sources produced here, double fuel economy in cars and trucks by 2025, position the US to be world's biggest manufacturer of high tech batteries, and set standard for utilities so that 80% of electricity is produced from clean sources by 2035. Third, grow small businesses by utilizing tax cuts for small businesses that hire new workers or increase wages and extend the Bush middle class tax cuts. Fourth, improve education for middle class jobs with combination of cutting tuition growth in half within 10 years, recruiting 100,000 math and science teachers, strengthening public schools, and training workers for the jobs of the twenty first century. Fifth, cut the deficit by more than 4 trillion dollars with a balanced approach to tax increases for the wealthy who can afford to pay more and spending cuts in the ratio of $1.00 in tax hikes to $2.50 in spending reductions. Sixth, place Americans in charge of their own health care when the ACA is implemented in 2014. Seventh, protect retirement security by making necessary adjustments to Social Security and Medicare to keep both programs solvent without privatizing or vouchering.
Elaine M Wiehagan