Seems like everyone has an opinion on the current state of the economy and what we can do about it. I'm no different, and I can cheerfully say that economics isn't my thing. My formal education is in political science, which generally tries to ignore all harder academic sciences of any kind.
Obviously, the current economic trends have made armchair economist of us all. From nothing more than my own feeble research, intuition and desires, here is my prescription for what ails us.
In other words, for a purely self-indulgent vanity piece, follow me after the fold.
1) divorce employment from insurance with a universal single payer health care plan.
PROS - The positives are that it encourages businesses to hire, since they no longer have bear the brunt of insuring workers. That is a HUGE concern and cost for businesses these days, and the main reason we still do this is just pure tradition. It helps the uninsured and under-insured, obviously, but it also short-circuits the coming medical bubble burst that is inevitable.
CONS - The massive, bloated insurance industry will take a big hit. This will involve the downsizing of an entire industry when we can afford that the least. I believe the benefits outweigh the drawbacks, but it's gonna hurt.
2) Massive Stimulus Package - in the range of 2 trillion dollars focusing heavily (75%) on infrastructure and green technology.
PROS - Not only would the plan create jobs and get the economy moving again, it would use this "opportunity" to achieve energy independence and ease our environmental burden in one fell swoop, while leave valuable infrastructure in place for the next generation.
CONS - Our children and their children may benefit from the survival of the US as a world economic power (if we can pull this off), but they will have to pay for it... and all of our previous mistakes as well. May they be better stewards than we.
3) Government Intervention/Regulation - Not only will the new economy have to be regulated to prevent the abuses that brought us to this pass, but the government will have to take an active role in busting up corporations deemed "too big to fail".
PROS - Too big to fail means too big to allow to exist. This has been done before, and needs done from time to time. Big business will squeal (which for me is a benefit, not a drawback. heh) but they'll get with the program.
CONS - It will only be a matter of time before they learn how to game the system again, probably in "good times", just like they always do. This is just another battle in a long war, my friends. (creepily channeled McCain there. my apologies)
SUMMARY
I think we come out the other side of this thing stronger and better prepared for the 21st Century. It's going to hurt, though. We know there are hard times coming. The only questions now are "how bad?" and "for how long?" I would hope the suggestions above (not mine, merely compiled from those whose intellect is far greater than mine) might ease those burdens.
My internalized fear and anxiety compelled me to write this, so any discussion, positive or negative will help ease my mind. Thanks for your time today.