If I were going to be the President...

[Michael]

On January 20th, 2009, a new President of the USA will be sworn in.

If it were you instead of Barack Obama, what would you propose to do? What would be your priorities? What would you try to do and how would you go about doing that?

Please keep in mind that the President does not have unlimited power to rule the world - or even the US Congress. There are limits to the Presidential sphere of action. :)

[Americano]

On January 20th, 2009, a new President of the USA will be sworn in.

If it were you instead of Barack Obama, what would you propose to do? What would be your priorities? What would you try to do and how would you go about doing that?

Please keep in mind that the President does not have unlimited power to rule the world - or even the US Congress. There are limits to the Presidential sphere of action. :)

Alternative energy, massive reduction in military expenditures and alternative energy.

[Michael]

Yes, that sounds good, but not much of a real plan.

To be specific, significant reduction of military expenditures is A) extremely difficult to get through Congress, and B) bad for the economy even in good times (and now is not good economic times!).

One thing I'd be looking at would be to freeze payout/bailout money to Wall Street and use the money to buy up foreclosed housing properties at auction, using an arbitrary 50% of last commercial value as a 'public' purchase price. This at the very least would provide a 'floor' to that market and speed up the process of recovery in this sector that is the ultimate financial backbone of the whole economy.

The government can sit on that property for a few years then sell it if/when markets improve, so there isn't much downside cost/risk to this 'public investment' other than the initial outlay of funding (and the interest cost of carrying that). I don't believe the taxpayer will get back even a penny of the $700 billion Wall Street give-away.

[partofme]

I would focus on education first. Right now the debate is between reform and funding. I say do both. Curb teacher union influence and have merit based pay and the ability to fire teachers that do not perform but also increase funding and pay for good teachers and provide schools with more resources and updated buildings. I think both trains of thoughts have ideas that can have some good and to say it's and either or situation doesn't allow us to maximize effect. Increased spending in this regard can have short term stimulus but also improve the economy in the long term.

[Americano]

Yes, that sounds good, but not much of a real plan.

To be specific, significant reduction of military expenditures is A) extremely difficult to get through Congress, and B) bad for the economy even in good times (and now is not good economic times!).

One thing I'd be looking at would be to freeze payout/bailout money to Wall Street and use the money to buy up foreclosed housing properties at auction, using an arbitrary 50% of last commercial value as a 'public' purchase price. This at the very least would provide a 'floor' to that market and speed up the process of recovery in this sector that is the ultimate financial backbone of the whole economy.

The government can sit on that property for a few years then sell it if/when markets improve, so there isn't much downside cost/risk to this 'public investment' other than the initial outlay of funding (and the interest cost of carrying that). I don't believe the taxpayer will get back even a penny of the $700 billion Wall Street give-away.

The original plan TARP was approved on consisted of buying bad paper from financial institutions. After approval they scrapped that in favor of using public money to buy preferred stock in those failed institutions with no strings attached.

Due to the enormous political influence within the US system I have no confidence in government doing anything other than satisfying those special interests until it runs out of credit. I'd let the entire thing hit bottom ASAP, but that's not politically feasible.

[Michael]

Due to the enormous political influence within the US system I have no confidence in government doing anything other than satisfying those special interests until it runs out of credit. I'd let the entire thing hit bottom ASAP, but that's not politically feasible.
You're right. Just sitting back and waiting to get assassinated is not politically feasible. ;)