How to expedite America's economic recovery – YJ Draiman r1
The U.S. and the city of Los Angeles economy could expedite its economic revival by accelerating its hydrocarbon exploration and development. A national policy to enhance the development of hydrocarbon will turn the U.S. into a net exporter of hydrocarbon products. The U.S. must also build additional refining capacity at strategic locations in the U.S. to alleviate fuel shortages and increase its export of refined fuel and natural gas. Allocating a percentage of the revenues for the further development of renewable energy, energy efficiency and the development of water resources and efficiencies, including rainwater harvesting and grey water utilization etc. will further fuel Americas economic revival.
“Those who control the energy supply can control whole continents”.
Another avenue to boost the U.S. economy would be to initiate a program for Made in America products. This would require certain tax benefits to the manufacturer of products in America. Any unemployed American, who returns to the workforce, reduces the dependency for financial and social support by the government. Thus it turns the worker into a revenue generator for the government, while the employee’s earning are spent on goods and services which boosts the economy further.
The city of Los Angeles must make it easy for businesses to thrive. This will create employment and increase revenues to the government and it will create the multiplier effect.
Multiplier effect definition:
An effect in economics in which an increase in spending produces an increase in national income and consumption greater than the initial amount spent. For example, if a corporation builds a factory, it will employ construction workers and their suppliers as well as those who work in the factory. Indirectly, the new factory will stimulate employment in laundries, restaurants, and service industries and the housing industry which employs builders, plumbers, carpenters, electricians, etc.
Increasing bureaucracy, taxes and fees depresses the economy, reduces business development, which in turn reduces consumer spending and reduces revenues to the government.