My Plan to Fix the Economy

The United States could best get out of a recession through a collaboration of effort in every level of the economy; it is the responsibility of everyone in America to do their part. The federal government should verbally encourage its citizens to use their money, get it out in the economy to flow through hands and to make goods and services. People should start businesses, especially ones which will be exporting goods, thus bringing more wealth to the states. Lastly, people should seek a higher education; statistics show that people with college degrees earn higher incomes directly proportional to their level of education. It is by these actions that America would most easily come out of a recession

The federal government should verbally encourage its citizens to use their money. The economy can only grow if people are producing more goods and services. Firms make goods and services and a very popular method of increasing output is expansion through capital gain. Firms get loans from banks to hire new employees and purchase equipment, or money from investors to start up at a new location, no matter what way they choose, they need money to do it. If people went and spent their money, or even put it in the bank, firms could use it to expand and grow and make more goods and services and raise the GDP and lift America out of a recession.

People should start businesses. As stated before, firms make goods and services; people can start firms. The key idea to economic growth is production, if people start a business and make a good or service GDP will rise. Products must be made in a greater quantity to end a recession. If people start firms and do this, the economy will grow, especially if they are producing something they can export, and bring in foreign money and trade, increasing the amount of wealth held in the country.

People should seek a higher education. Statistically, income rises with years of education, but what also rises is knowledge. For 200 years America has thrived on its ability to innovate and increase efficiency through technological advancement. If all of America sought to gain a higher education, the quality of our goods and services would dramatically increase, and be worth a lot more. It is my opinion that 95% of the country is disturbingly unintelligent, and through a series of educational steps could possibly join the other 5%, and actually become truly productive members of society and make new innovations and inventions that would put America much higher up on the economic food chain.

The recession could best be fixed by a collaboration of effort from everyone. The government needs to inform the population of “econ-friendly” practices. People should take it upon themselves to raise the GDP by starting a business. People should go back to school and learn some things that are actually helpful to society, and then think up some new things to make and do. The only way the United States of America is going to grow economically is to remain united and make a joint effort to do so.