The exploding pace of technological change today offers America opportunities to reduce our debt, grow our economy, and cement America as the most innovative and advanced nation on Earth. These solutions could be faster, better, cheaper and lasting—if the post-election government can agree on a growth strategy as well as a sensible budget policy.
In The Politics of Abundance: How Technology Can Fix the Budget, Revive the American Dream, and Establish Obama’s Legacy, Reed Hundt and Blair Levin, Chairman and Chief of Staff at the Federal Communications Commission from 1993 to 1997, offer strategies that use private investment to rebuild America’s vital knowledge and power infrastructure in this country. Hundt and Levin explain that similar strategies during the Clinton Administration resulted in budget surpluses, and 4% GDP growth and can be applied now to broadband and energy. The Politics of Abundance contains strategies for transforming:
• Broadband – The US should lead the world in delivering education, healthcare, public safety, and all government services from cloud to broadband connected devices, as well as in exporting personalized education and healthcare.
• Energy – The government should rebuild electrical generation, distribution, consumption, and automotive engines. In four years, the US should double market share of wind and solar generated electricity, increase by half natural gas generated electricity, and lower consumption by ten percent.
• US Policy through Congressional Deals:
• Tax Agreement: tax carbon-intensive emissions from power plants in return for reducing the income tax rates that will become effective in January.
• Incentive Reform: couple utility reform with corporate tax reform, requiring states to remove barriers to private sector investment in clean energy and energy efficiency while simultaneously increasing other corporate investment incentives.
• New Wave Infrastructure Financing: charter a national “electromagnetic wave bank” that provides long-term financing at low rates for investments in renewable power, energy efficiency, and next-generation data networks, capitalized by allowing technology companies to repatriate some of the nearly $2 trillion they keep overseas to avoid American taxes.
• Next-Gen Government Now: create a CEO-led Digital Transition Commission, with the power to accelerate more of all government services to digital platforms, resulting in long-term savings and establishing American leadership in such emerging areas as personalized education and health.
More information about the book and the authors can be found at politicsofabundance.com