US Economic Stimulation Plan: The current US government economic stimulation plan is to print up a bunch of new paper currencies, T-Bills, Bonds, and other similar paper securities for bank deposit (actually the Federal Reserve Auction) to cover checks issued to US contractors to re-build and expand the US infrastructure (Pork Barrel Projects) in order to reduce unemployment. This money will probably be spent on imported earth-moving machinery, imported materials (Steel, Equipment, Pipe & Wire), new imported private jet airplanes, illegal alien labor, outsourced engineering, outsourced CAD drafting, etc., and the US workers will still be mostly unemployed. Any Economic Stimulus Spending should also prohibit any imported products (even if we no longer manufacture those products) from being purchased with these funds, and also prohibit all outsourcing of the Labor Required. This is a short term solution that will only economically benefit foreign manufacturers of industrial and consumer goods, salesmen of the foreign manufactured equipment, materials, etc., and the other people working in the distribution of the imported things for our infrastructure improvements, but the balance of trade will still require sending US dollars overseas to pay for these things that we import. The current will still require sending more and more US dollars overseas in exchange for these things that we import for our infrastructure rebuilding. These dollars that we pay to foreigners for manufacturing these imports will then be spent by foreigners to purchase title to our real estate, farms, agri-businesses, food supplies, dairies, forests, industries, breweries, hotels, factories, casinos, financial institutions, retail businesses, and other finitely limited assets located in the USA, instead of being redeemed for gold. These US assets are now 25% foreign owned, and are rapidly becoming almost totally foreign owned. After we have sold all of our US assets to foreigners as required to settle our foreign trade obligations, there will not be anything left for the foreigners to buy and US government not be able to raise any funds for any re-industrialization of the USA, and the US citizens will not have any possibility of employment in their future. The money passed out to the financial industries does nothing to create jobs or eliminate the problems with the US economy. Maybe it helps pay for the commissions of the US salesmen of the expensive new French manufactured private Jet Airplanes. The French people making these (Dasault Falcon 20-25) airplanes are probably very thankful for the US government's generosity.

Spencer's US Economic Stimulation Plan: Instead of just passing out free TARP money to the incompetent financial wizards at various inept and possibility criminal wall street organizations and hope that some of this free money will trickle down, maybe the US government should build manufacturing plants to make consumer products like refrigerators, washing machines, clothing, TV's, tires, auto parts, and eventually all of the consumer goods that we import with that money. We should then impose extremely high import taxes that are high enough so that these US made products are less expensive that the same imported product. Without extremely high tariffs, US workers must compete with foreign workers at foreign wage scales. These plants should periodically and/or constantly be for sale based upon periodic open public competitive bidding, but at a minimum sale price at least equal to as much as the government investment, and with terms of cash only. There should not be any leveraged or MBA creative financing for purchase allowed by the government. The Management should know about making the products, not creative financing. Maybe anyone with a MBA degree should be disqualified from employment where federal funding is used.

It is not the foreign manufacturer's fault that this economic condition exists: We created this condition ourselves. We purposefully destroyed most of our industries and fired all of the employees that were located in the US for various reasons. We decided that we could get people in other countries to work to make these things for our consumption if we paid them with freshly printed-paper currencies and other types of freshly printed-paper securities (Junk Bonds). Our Stupid Legislators of both political parties, Importing Companies, Ignorant Government Employees, Self Serving Corporate Managers, Wall Street Financial Genius Master Criminals, Enron and Arthur Anderson type Management, NAFTA, EPA, WTO, OSHA, and the buying public just to name a few, have created this situation.

Re-Industrialize Now: How can we ever possibility restart our industries (re-industrialize) to generate a positive balance of trade that will restore our economy? Most of the people who knew how to operate the US basic industries and factories were fired 30 years ago and are maybe long dead and buried. There are no books that completely tell everything about how to do most of the things that we knew how to do years ago when we created the industries that won WWII and then gave us this bountiful way of life.

We need more science-oriented citizens that will create many new innovative products and services that we can sell or exchange for foreign owned currency. We need to import foreign owned US dollars and foreign owned gold for the products that we export, not export our dollars and gold to pay for imported products. When the time comes that people in foreign nations no longer accept our freshly printed paper dollars to pay for our imported products (and our government activities), we will be in deep trouble with no quick way out. We must act now while we can still buy foreign made materials and foreign made equipment for the re-industrialization of the USA with the remaining purchasing power of the dollar before we have redeemed all of the exported currency for title to all of the remaining existing US assets. The buying power of the dollar will become zero when there is nothing left for the foreigners to buy with the dollars that they earned by making our consumer goods. I do not have confidence that the USA citizens still have the knowledge and technical education to re-create our factories for manufacturing, innovating and designing new products for export as required to reverse our trade balance and restore the value of the dollar.

After the American revolution, the USA instituted high import tariffs to encourage the industrialization of the USA, and it was successful in establishing a positive balance of trade, accumulating Gold reserves, creating a manufacturing base, creating a technical data base, and making the USA independent from England for technology. One way or another we must stop the selling of title to everything of value in America to pay for what we consume. We must create a positive balance of trade by any means possible. If not, we will destroy the purchasing power of the US dollar. Without import tariffs, most all products will be purchased for less money if they are manufactured in foreign countries where labor costs are minimized. The US labor force has no future without high import tariffs to prohibit foreign imported products. Without high import tariffs, US workers must compete with foreign workers at foreign wage scales for employment. Most USA citizens do not want to work for wages that the same job in a foreign country would pay. Until we re-industrialize and correct our foreign trade imbalance, we cannot afford to have free trade because it will destroy the US Economy.

Services Required to Support Agriculture and Industrial Production: Civilized nations have always taxed the productive (agricultural and industrial) population to pay for providing National Security, Crime Prevention, Education, Fire Prevention, and other similar items that are necessary to assist, support and protect the agricultural and the industrial production bases that supplied the things that the population consumed. Our Industrial and Agricultural Bases could not exist with foreign invasion, rampant crime, protection rackets, corruption, sabotage, etc., so a portion of the money earned by this producing base has always been taken by taxation by all civilizations to pay for federal, state, and local governments to prevent these occurrences. Maybe we can no longer afford to spend our hard earned taxes on National Service, social entitlements, welfare, environmental clean-up, pork barrel projects, free education, free medicine, subsidized housing, humanities, art, writing poems, make-work schemes, entertainment, digging holes then re-filling the same hole, etc., until we re-establish our economic base.

The US citizens do not want to work for the extremely low wages that are paid in foreign countries to manufacture the things that we consume. This is the main reason why the US manufacturers have closed their US factories. As an example, the US tire manufacturing companies closed their plants, sold the tire manufacturing equipment to Foreign Citizens who relocated this equipment to their foreign countries where labor costs are very low compared to US labor costs. These foreigners re-constructed and re-started these plants using workers that are paid only a fraction of the pay that US citizens would accept. As a result, these foreign companies now manufacture most of the tires consumed in the USA. The USA importers ands distributors pay the foreign manufacturers in US currency for these products, and these foreign countries do not buy very much if anything from the USA because our products are much more expensive than foreign made products.

Scientific & Technology Education Option: If US citizens are not willing to work for lower wages than the foreigner workers employed in foreign countries are paid, the USA cannot compete based upon lower labor costs. If we cannot compete on lower labor costs, then we need to be competitive internationally through other areas such as superior technology. We could make our educational system back to the emphasis of earlier decades to create many more medical doctors, scientists and engineers (rather than graduates other degrees). The USA medical doctors, scientists and engineers must also become much better educated, much more intelligent, and otherwise much more superior to any foreign educated scientist and/or foreign educated engineer in order to design, create, innovate, and produce new technical products that foreigners do not have, so that the foreigners will then buy these new products from us, in exchange for their foreign gold and currency. Only if our products are superior can we export these products in return for their foreign payment to the USA. We must also prevent foreign countries from pirating and/or copying our new innovative products. We might need to use the force of law and/or our military might to prevent this pirating of our technology.

If we had superior engineers, medical doctors, and scientists we could then export scientific and engineering services to foreign nations in return for their currency and gold in order to improve our balance of trade. These services would have to be provided by doctors, scientists and engineers who are very much superior to any foreign educated doctors, scientists and engineers, or the foreigners will use their home grown (foreign educated) medical, scientific and engineering talent and not buy the services of US doctors, scientists and engineers.

Our computer programming technology and expertise (ala Microsoft etc.) has helped our balance of payments considerably in the past, but the lack of technical education in this country today has reduced and will soon totally destroy this export capability. The foreign countries have become better than the USA at creating new computer software programs, since the USA has chosen to de-emphasize technical and scientific education in our universities.

Visit the Texas Medical Center (MD Anderson) and witness the percentage of women wearing Burkas to get a clue as to the percentage of foreign medical service income is received at the Texas Medical Center. I do not believe that any of these women wearing Burkas are US citizens. Foreign currency paid to our US located Medical Doctors, Laboratories and Hospitals improves our foreign trade balance. Most foreigners believe that US educated medical doctors are superior to their own in-country educated medical doctors.

Engineers who are working in Foreign Countries and sending (most of) their dollars home to the USA improves our balance of trade. In the past, foreigners believed that US educated and trained Engineers were superior to their in-country educated Engineers. This advantage has almost disappeared since the USA stopped emphasizing engineering, science, and technical education in our Universities.

I have been the engineer of record for construction projects in Asia, Europe, Middle East, Caribbean, and South America. US citizens are unaware of the lifestyle advantage that we are accustomed to and take for granted. If our economy collapses, we can become a third world country overnight.

We need to create a demand for and provide more financial incentive for our students to major in the medical, technical and scientific subjects that are needed to create the technical capability intelligence bases required to re-industrialize the USA and improve our economy. We need to demand a return to scientific and technical excellence in all levels of our education systems that we essentially destroyed in the past few decades. This is necessary in order to re-create the technology bases that are necessary before re-industrialization can occur. We can only export technology if our products and technology services available for export are superior (or cheaper) to those available anywhere else in the world, and/or at least superior to the services available in that particular foreign country. This will first require that our students study science instead of other non-essential subjects in our education system beginning in elementary school and continuing through graduate school. According to the National Science Foundation and the National Society of Professional Engineers, only about 5% of the current college students in the USA studying for a degree in science, medicine, mathematics or engineering are US citizens. In the Asia the vast majority of the college students are majoring in science or engineering. We need to increase the percentage of USA citizen college students studying science and engineering from 5% to more than 60%, in order to emulate the economic successes of the Asian countries. We must emulate China, India, Pakistan, and other Asian countries or die economically.

Student loans should be available for only those fields such as science, engineering, education, accounting, and medicine that do contribute to our industrial base and will help our international trade balance by re-creating our technical knowledge base necessary for re-industrialization. Maybe we can no longer afford to support or educate any more artists, actors, theologians, musicians, philosophers, psychologists, historians, poets, novelists, reporters, political scientists, etc. until we get our economic house in order.

I am a 70 year old engineer still working because engineering is fun. I have always been interested in Economics since Texas A&M required this course for engineers, along with business law and accounting in the 1950's. These courses benefited me greatly in by career. I also cashed in my investments last spring and avoided the loss of assets that most folks endured when they listened to their financial advisor experts.