(Did a quick search, but didn’t see a topic like this. Hopefully I’m not being redundant... again ☺ )
Personally I don’t think it’s possible at this point without a great deal of pain, the trick being to find ways to fairly distribute said financial suffering. In other words, the opposite of what is coming out of Washington. With M3 plunging, unemployment higher than most realize, the debt beyond all reason, the deficit beyond all reason, GDP shrinking, housing still not fully collapsed, industrial capacity outsourced, a majority of the states nearing bankruptcy and so many other things, we’ve got a nasty road ahead, again, in my opinion.
The US is essentially bankrupt.
That said, and being nothing of an economist, I’ll throw the first layman’s pie, my own top-of-my-head cloud cuckoo land wish list, in no particular order. This list doesn’t include things which wouldn’t necessarily help the economy, but which would be healthy for a democracy, such as removing corporate personhood from practice, although this step may be necessary to achieve some of the things on my list. It also doesn’t include suspected suppressed technologies being released for humanities benefit as I, personally, can’t know for sure if these things actually exist or not. It also doesn't include a few things where I feel I have no good answer, such as immigration, where I only have opinions on what I don't want to see happen, such as Arizona's recent legislation, and only really facile ideas about what I favor: if they are here they should have basic human rights, living wages and conditions.
1) Cut military spending in half, ending all wars and occupations. More cuts to be made as what is determined to be truly necessary for defense.
2) Immediate spending on infrastructure repair and plans for additional public works targeting domestic energy production and infrastructure and environmental damage assessment, mitigation. Plan for expanded national railroad system.
3) Plan/support for localized food production and jobs.
4) End the ‘War on Drugs’. Legalize and regulate. Release all non-violent drug offenders on probation. Expand drug rehab clinics.
5) Prosecute and seize assets of corrupt financial institutions and corporations, including those guilty of environmental damages.
6) Seize control of the Fed. The government will then issue interest free money domestically, adjusting the money supply as is necessary to reflect the size of the economy.
7) Tariffs on all companies not solely based within the US. Pro-rated as a percentage of company spending/ investment outside the US. Possible exceptions for goods/services not possible or difficult to produce domestically. May need some flexibility here with regard to company’s host country’s financial situation. Must include living wage/conditions and environmental guideline in importation of any product.
8 ) Revisit tax structure with an eye towards taxing extreme wealth and corporate profits.
9) Nationalize critical industries.
10) Break up monopolies.
11) Public financing of elections.
12) Medicare for all. First new jobs in Medicare to be offered to former insurance industry workers. Medical supplies, doctor fees and drug prices subject to negotiation with Medicare.
13) Shore up and reform educational system.
14) Attempt controlled collapse of housing market, as prices are still well above historical baselines.
15) Aid, as is possible, to countries the US has dominated/damaged/destroyed in order to create good will and trading partners under living wage/conditions and environmentally healthy guidelines.
Would that "fix" it? I'm certainly not qualified to say. Obviously every one of those suggestions would require an analysis of cost, savings, and benefits, done with human rights and environmental impact taken into full accounting.
I know there's a lot of super sharp people on this board. I often feel I'm auditing a class I haven't done the prerequisites for. Looking forward to any comments.
