The article HERE’S WHAT’S WRONG WITH THE ECONOMY… (And How To Fix It), contains the written explanation, a few items of which are the following:
- This budget plan can theoretically include an increase in short-term spending designed to minimize the country’s pain, as long as it also includes a decrease in long-term spending (again, right now, the world is willing to lend us as much money as we want)
- The 10-year government budget designed to get us out of our current predicament, therefore, should probably include a massive, multi-year infrastructure spending program.
The article also contains the following video explaining the problem and solution.
The major piece of this plan that is missing is to fix the tax system to reverse the concentration of wealth that has been promoted for the last 30 years. The old tax structure and rules kept us out of depression for 70 years. Without returning to the old structure (much more than just fixing the taxes), even if we manage to get out of the current predicament, it won’t last as long as the previous recovery.