Prospects For A Brighter Future Just Improved
Hillary Clinton represented the status quo; equity markets and the U.S. dollar/Mexican Peso exchange rate have been our best barometer of that. The polices Hillary intended to pursue were an extension of the failed 8 years of President Obama and ensured more decay, more challenges, more of the same.
Donald Trump, still an unknown quantity, represents the first chance to change the direction of America’s future since 1980.
In 2016 conventional wisdom holds that America is a nation in decline. The Democrats know it, and so too do Republicans. The causes for the decline are not hard to discern. In my book, “The Five Structural Barriers to American Strength and Prosperity,” I lay bare the causes and the associated empirical data.
Immigration leads the list, and has since the mid-1980’s. What is the problem? Too many immigrants, both legal and illegal. Add in the social counterparts of multiculturalism and political correctness and the corrosive nature of America’s immigration policy becomes painfully obvious. Immigration policy has divided America by language, ethnicity, and culture, hurt job prospects for American citizens, and capped wages in many sectors.
National deficits and debt and the mismanagement of fiscal policy are a giant warning signal for all to see that danger is on the horizon. In 2016 the Republican controlled Congress and President Obama will run a $1.3 trillion deficit, pushing total national debt to $19.6 trillion. The risk to our posterity of leaving them this bill is hard to overstate. This cannot continue.
International trade policy and 33 years of an ever growing merchandise trade deficit has crushed the middle class, transferred tens of trillions of dollars of American wealth overseas, and left vacant tens of thousands of manufacturing facilities dotted across the American landscape. President Clinton’s signing of both NAFTA in 1994, and PNTR with China in 1999 has wrecked havoc on the future of tens of millions of Americans.
America’s public education system is shortchanging American citizens, and has been for decades. Federal control has been nothing but a disaster for education. Since 1979, the outcomes of the K-12 public education system have been universally recognized as having declined. Common core is the latest iteration of intervention and of the lowering of the bar. America can’t compete with China, Japan, or Germany much longer if the public education system isn’t reformed, beginning with the end of federal involvement.
The regulatory burden put upon American businesses and individuals is sapping citizens of their freedom and privacy, and their entrepreneurial spirit. Obamacare and Dodd-Frank are poster children of the regulatory burdens. Rolling back regulations and government intervention in the private sector is paramount.
Donald Trump won the GOP primary because he focused on these policy areas. Donald Trump won the general election because he focused on these policy areas. If President Trump, with the help of a GOP controlled Congress, follows through on his rhetoric and addresses these policy areas by reversing policy in every way, then America’s future will be stronger and more prosperous.
Though take note, there are no painless solutions to America’s glaring challenges. There are short-term economic consequences to fixing America. It can’t be avoided. We’ll see if President Trump and the GOP Congress have the strength to do what needs to be done.