Obama, Here's How to Fix Our Economic Mess
Watch: Debt crisis expert Juan Enriquez details 10 non-partisan financial commandments for President-elect Barack Obama.
10 Commandments for 60 Days
- 1. We have to save the dollar. (AAA rating in jeopardy)
- 2. We have to fundamentally and brutally restructure debt.
- 3. All entitlements are fair game.
To begin with:—Age 60—65: you probably just lost big chunk of your nest egg, your Social Security/Medicare benefits are intact —Age 55—60: we need two more years’ work from you —Age 55 and under: we need three more years
- 4. Cut back military by 3% per year for ten years.
- 5. Cap medical costs at 18% GNP.
- 6. We have to triage our support for companies (do not attempt to save dying whales).
- 7. The program has to be bipartisan. It has to make D and R unhappy.
- 8. Simplify and broadly apply Sarbanes Oxley, apply it to government, apply it to hedge funds .
- 9. We will invest in growing start up companies. (which create most jobs.
- 10. We will treat education as a varsity sport. (and continue to recruit foreign PhDs).