October 24, 2016

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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.

| 1/1/2009
Juan Enriquez has some suggestions on what the new president and the rest of us have to do to fix America's mess. He is Managing Director at Excel Medical Ventures, a life sciences and healthcare venture capital fund. He was the founding director of the Harvard Business School Life Sciences Project and author of the global best seller “As the Future Catches You: How Genomics & Other Forces are Changing Your Life, Work, Health & Wealth."

Juan Enriquez (2008) Pop!Tech Pop!Cast from PopTech on Vimeo.

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).

Tags: Politics & Law, Banking & Finance, Government/Politics & Law

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