Moving the Economy into the Future

[frodo82801]

http://tcsdaily.com/article.aspx?id=121007B
Another set of critical issues is how to improve U.S. economic competitiveness by addressing such issues as education and innovation. Specifically, the US must reverse the troubling shortage of math, science, and engineering talent by taking steps to increase the number of math, science, and engineering graduates, as well as improve the number and quality of K-12 math and science teachers. Congress and the President would also be wise to encourage research, development and commercialization of new technologies, including a permanent extension of the R&D tax credit and stronger protection of patents and copyrights.

One thing the United States must not do is back away from its historic commitment to global trade. The reasons why are very clear. More than 95% of the world's consumers live outside the United States. One-sixth of U.S. manufactured goods are sold abroad. One in every three acres of U.S. farmland is planted for export. The combined effects of the major trade agreements of the 1990s have increased the purchasing power of the typical American family by $1,300 to $2,000 per year.

[Chariots]

As an engineering graduate I'd say the vocational schools (nursing, dental hygene, etc.) have a leg up on us. They are placing students at higher yearly salaries with two year programs compared to many 4+ year engineering programs. Students will ultimately go to where the money is. Does it make sense to beat your head against a high tech wall for four years when you can put an equally intense two years into dental hygene school and make 25% more.

The lack of students enrolling doesn't mean our kids are less intellegent (book smart) It may mean they have more common sense than many of us had in the 80's. We were told as a group study math, science, and engineering and you will go far.

Since we are a service related economy I wouldn't expect these trends to change. Only if the weaker dollar,strengthens US Industry and manufacturing exports grow.

I don't see any reason to be concerned about lower entrance numbers in tech or engineering schools. Maybe these jobs will come back eventually. However, these jobs migrated to China, India, and Japan for the last decade and maybe the next as well.

Our Brother Issacar's initial profession in electronics was eliminated by disposable electronics. It is painful for those of us who made the effort to pursue education only to have jobs disappear or the pay shrink with inflation.

From the above link posted by Frodo

Finally, policy makers must continue to maintain a healthy environment for economic growth and job creation, including lowering the overall tax burden, simplifying the tax system, avoiding needless regulation, and relying on market incentives to achieve social goals

I agree whole heartedly with this statement. The problem is how can we as a nation compete against India and China wages when their people are paid dimes on our dollars. With no insurance costs, OSHA overhead, liability concers or EEOC constraints, there is no parity between the industrial base in these countries and ours. The only way I see us obtaining these jobs back is when the dollar is debased to the point it is equal to Chinese currency. Even that may not be enough to bring the jobs back,but it would be a start.

[jds6958]

I agree whole heartedly with this statement. The problem is how can we as a nation compete against India and China wages when their people are paid dimes on our dollars. With no insurance costs, OSHA overhead, liability concers or EEOC constraints, there is no parity between the industrial base in these countries and ours. The only way I see us obtaining these jobs back is when the dollar is debased to the point it is equal to Chinese currency. Even that may not be enough to bring the jobs back,but it would be a start.

Exactly, which is why we may never have the standard of living we have now ever again...today's lifestyle is a fairy tale.

[Cameron]

Its just a piece of the overall puzzle, but we must also reign in the trial lawyers who sue for tens of millions of dollars over various product issues that then raise the price of the product to cover the cost.

You don't hear about such lawsuits in China and India.

If medical malpractice was abolished, we would probably see a 10% - 20% reduction in healthcare costs over night.

Malpractice lawsuits have become a form of the lottery.

[frodo82801]

Its just a piece of the overall puzzle, but we must also reign in the trial lawyers who sue for tens of millions of dollars over various product issues that then raise the price of the product to cover the cost.

You don't hear about such lawsuits in China and India.

If medical malpractice was abolished, we would probably see a 10% - 20% reduction in healthcare costs over night.

Malpractice lawsuits have become a form of the lottery.
Yet another reason why we don't need a John Edwards.