Congress should provide the Big Three auto makers bridge-financing to carry them over into late January so that the new president and new congress can make provisions for providing the Big Three a good economic base.
The three auto firms should meanwhile produce only those cars that they think that they can make money on during these times and begin preparing themselves for producing small hybrid cars that they can sell. They should get into battery production that can be used in hybrid cars and in individual homes in connection with individual-home solar energy and wind systems.
The Federal government should give subsidies to homeowners to encourage them to buy indidvdiual energy systems and provide low interest loans for 5 to 10 year periods for the purchase of these facilities.
The Big Three should establish research and development operations to work toward the design of vehicles not requiring petroleum fuels and perfecting home energy producing systems that will not require environment polluting energy.
Meanwhile as part of the infrastructure upgrade throughout the country we should promote research and development in the area of self-contained sewer systems that will purify the water and convert the waste into organic gases that can be utilized instead of petroleum fuels.
As we need to reduce dependence on the use of the automobile for the next generation, we should build the best public transportations systems that we know how immediately and for the next decade. Many existing business can gradually begin to modify their type of production to move into energy-producing, storing (batteries) and energy-saving systems.
All mortgage holders should be permitted to convert their mortgages into long-term, low-interest loans through the FHA and engage in whatever legal procedures are necessary for people who cannot afford their homes to either keep them or sell them through the FHA and get out from under these unaffordable debts.
Meanwhile the Federal government should engage in all sorts of projects that will improve our infrastructure, including our schools and municipal facilities for the additional purpose of creating jobs.
The economy can only function when there's sufficient money in circulation to encourage production of salable items. Those retirees on pensions should be able to apply for funds that will bring their payments up to those paid in 2007 for the period of the next three years.
I believe that the situation is so urgent that the new president should call for those in the congress who will work with the in-coming administration to begin drafting the required laws that can be passed as soon as possible and to have others ready to be passed as soon as the new government gains office. In the future, new presidents should take office as soon as possible after Thanksgiving Day.
At this point in our history, these and other actions by the Federal government are required if we are going to get our modified free enterprise system going again. And the system must be put into motion from the bottom up.
Top-down hasn't worked and will not work by the very nature of the economy.