Obama's first priority should be helping entrepreneurs create jobs. Here's how he can get that done, fast.
President Obama won a sweeping victory, capturing over 300 electoral votes. Now, his first priority needs to be job creation. We need to create 350,000 jobs per month to absorb of new entrants to the job market and end the recession.
To make this happen, small-business owners and large, publicly-traded companies need to regain their confidence about the future. They need to be willing to reinvest in our country rather than diverting that money into opportunities overseas. Here are four ways the President can help make this happen, quickly.
1) Invite John Boehner to the White House to tackle the fiscal abyss. This needs to be resolved immediately, certainly before New Year’s. Otherwise, a cascade of crushing new taxes will halt any anemic growth we manage to generate. If we can solve this problem in a bipartisan manner, the nation will be able to forge ahead in a more unified fashion. This isn’t rocket science: Each side needs to list their “must-have” points and then accommodate their counterparts with some give and take.
2) Approve the XL Pipeline through Nebraska. By pushing this approval through, the President will prove that jobs are his No. 1 priority. Approving long-pending permits for drilling on government lands takes very little effort by the President, and will lower the cost of energy. That, in turn, will reenergize factories and save consumers money. With more money in their pockets, consumers will have more to spend and the negative effects of higher taxes will be mitigated. With cheap fuel as their feedstock, factories will relocate in the USA, creating new jobs – well-paid, long-term jobs. This will improve our economy for decades.
3) Embrace the Simpson-Bowles plan, giving us a comprehensive blueprint for debt reduction. Sure, no one likes every detail; however, the plan addresses the debt and provides a starting point for the discussion. It provides a route to get out of this choking debt, and to allow us to leave our kids with better prospects than they have now.
4) Take the lead on the Trans-Pacific Partnership so that American companies have more prospects to sell to in Asia. With the President’s leadership, we can get this treaty enacted in the first 100 days of his second term. The President’s brightest hour occurred when he rammed through the South Korean, Panamanian and Colombian Free Trade Agreements. He opened our nation up to new markets and gave our companies new clients that buy our goods. He should re-create that success with a much larger trade agreement, so we can create the jobs that would make products for these new bigger markets.
Pursuing these four initiatives will start the process of rejuvenating the country by creating jobs and reducing our crushing debt.
DREW GREENBLATT is the president of Marlin Steel, a U.S.-based builder of steel wire baskets and sheet metal material handling containers. Marlin has grown for seven consecutive years, has gone more than 1,800 straight days without a safety accident, and believes passionately in the American manufacturing renaissance. @steelwire