There’s a huge factor in our economy that nobody seems to be talking about – China. We need to take control of this issue in advance, rather than just let the circumstances occur. First, China is a huge debt holder becoming larger every day. If they ever decide to demand payment or reduce the amount they are willing to carry, we will have problems. Thus, to a certain extent we have lost control of our economy already. Second, American consumers and industry rely on the Chinese industry to produce low-cost products. Thus, we have moved a certain segment of our employment/production overseas. If we ever want to reduce such production and move that part of the economy back to the United States, then China may demand payment of the debt it holds. If China ever decided to raise its production costs, it would have a negative impact our cost of goods and on our economy.
Both of these circumstances just seemed to occur over time; now we must address our economic circumstances with these conditions in place. However, we now need to stop the flow of jobs to China and flow of borrowed money from China. We need to develop a stronger, more directed plan in order to regain some of the self-control we have lost.
First, we need to be proactive in reducing our debt.
Second, we need to reduce the regulation and taxation of American small business in order to bring back some of the jobs we have lost to China.
Third, we need to make sure that we do not create an additional disadvantage to American business by burdening such business with Health care and environmental costs.
Fourth, we must keep the minimum wage in check so that we do not out-price ourselves in production costs.
Fifth, we need to take control of energy costs with American production and innovation.
Finally, we need to consider the overall long-term impact of the current circumstances and develop an appropriate economic policy that favors America.
On a separate matter, we need to undertake a similar process for addressing the illegal immigration issues.
