So, we have more supply than demand. I have one idea how we can increase demand...
OK, I'm no economist, and I prefer to just say something, rather than think about it first. Makes life more interesting, ya know. But I have a solution for the economic crisis in the US. And hoo boy, would it piss a lot of people off, particularly in my family. But I would consider that a benefit.
Why don't we just throw open the gates to a huge wave of new immigrants? Sure, sure, we'll need parameters, but we can use those parameters to shore up chronic weak patches in our economy.
Every new immigrant who enters will be required to buy a house and a car built in America within two years of their arrival. The Feds will help with your credit (after all, banks owe them a pretty big favor now.)
If you can open a business and support yourself, you're in. Cash reserves are required upon arrival to prove you can get started. Permanent citizenship is approved after three years of self sufficiency.
If you're willing to settle in an area of the country in need of extra help (Appalachia, Rust Belt, etc.) you can have an extra three years to buy that house and car.
Interested (and qualified) to teach in the inner city, be a rural doctor, or provide some other needed service? I hear the new health care plans are threatening to create a shortage of primary care physicians. You can work for anyone who will hire you, and no cash reserves are required to enter the US. If the pay is too low (not for you, Doc), we'll waive the new car requirement and offer good financing terms for your house.
Wiring money back home to support the extended family? Sorry, there's an extra tax on that under this program. We'd love to have them visit, though. We'll make the Tourist Visa Application process really easy.
The home buying requirement would have two benefits--stabilizing communities and stimulating the housing market. The American-built Car requriement would shore up a staggering industry. (We may need to waive that requriement if only one US carmaker survives, even though there are plenty of Toyotas, Hondas, and BMWs built here in the US. I don't like encouraging people to drive, but I thought that requiring purchase of a US built hybrid was a bit too restrictive.)
There are people all over the world who would love to come here. I'm an unemployed white collar worker, and I don't relish competing against a new wave of potentially cheaper labor. But frankly, if it can stimulate demand, and get this country rolling again, I stand a better chance in the long run.