@georgeob1,
I disagree with your analysis on how our economy can be improved.
We can start with getting rid of Bernanke and the feds; they are useless as was Greenspan. Their low interest rate only exacerbated the lending problems and speculation that resulted in the currency crisis.
The problem with your assumption about "expansion of physical facilities or hiring new staff" is the simple fact that US companies have been off-shoring more jobs for over two decades now, and many are holding large amounts of cash. Many could have expanded at very low interest rates, but they didn't.
One of the biggest problems facing our country is "class warfare." The top 10% continue to increase their wealth while the middle class and the poor can hardly keep up with inflation, and many are still losing jobs or can't find one.
The only solution to this problem is for our government to invest in this country by spending on infrastructure and education. Not the measly $447 billion Obama wants congress to approve, but something closer to two trillion dollars. There's no way to split up $447 billion into tax cuts, extended benefits for the unemployed, and for infrastructure, and have any long-term effect.
When the $2 trillion is spent on infrastructure and education, the long-term benefits will pay for themselves. Creating jobs for millions across the country to work on our infrastructure, and to keep and hire teachers, will result in higher demand for all consumer goods and services - which in turn will pyramid into more jobs and tax revenues.
Those countries in Europe that have agreed to austerity programs will only make their economies worse off. It will result in more layoff of workers from government jobs, and that will translate into lost jobs in the private sector - for reducing the demand for all goods and services. They are only ensuring a slow death. Tax revenue will dry up, and their ability to pay on their bonds will disappear.
The only issue that needs to be addressed is accountability for spending such huge amounts of money directed to the programs it was meant for; we all know how sloppy governments can get when they control obscene amounts of money. There should be checks and balances to ensure no money is wasted on fraud, and the penalty for any attempts to cheat the government to be a very high price including abolishment of all assets, and 25 years prison time without any possibility of parole.
No exceptions.
