NYTimes Op-Ed Columnist Thomas Friedman – Time to Reboot America…
…weâ€™ve fallen into a trend of diverting and rewarding the best of our collective I.Q. to people doing financial engineering rather than real engineering. These rocket scientists and engineers were designing complex financial instruments to make money out of money â€” rather than designing cars, phones, computers, teaching tools, Internet programs and medical equipment that could improve the lives and productivity of millions.
Thatâ€™s why we donâ€™t just need a bailout. We need a reboot. We need a build out. We need a buildup. We need a national makeover. That is why the next few months are among the most important in U.S. history. Because of the financial crisis, Barack Obama has the bipartisan support to spend $1 trillion in stimulus. But we must make certain that every bailout dollar, which weâ€™re borrowing from our kidsâ€™ future, is spent wisely.
It has to go into training teachers, educating scientists and engineers, paying for research and building the most productivity-enhancing infrastructure â€” without building white elephants. Generally, Iâ€™d like to see fewer government dollars shoveled out and more creative tax incentives to stimulate the private sector to catalyze new industries and new markets. If we allow this money to be spent on pork, it will be the end of us
Makers, post your thoughts in the comments!