Germany, Japan and China are America’s principal competitors, and each undervalues its currency to artificially make its products cheap against American products on U.S. store shelves and in global markets.
Onshore drilling in North Dakota and Texas notwithstanding, the United States still imports as much oil as it produces, when drilling off the Atlantic, Pacific and eastern Gulf Coasts could eliminate dependence on foreign oil.
Fixing those issues would increase GDP by $750 billion and create 7 million jobs over three years—after that economic growth would stay well above 3 percent indefinitely.
Still American voters don’t seem to support rolling back most entitlements to ease tax burdens, repealing Dodd-Frank and breaking up the big U.S. banks, scaling back other business regulations, or drilling off shore. If they did, Mitt Romney, who ran on those policies, would be president.
Hillary Clinton, as president, would not reverse those policies. She talks endlessly about programs for girls, when boys and young men are doing much worse in schools, colleges and the job market—and not much else.
Women voters don’t want to hear about those facts, and are more focused on the glass ceiling in the Oval Office than backing any Republican who could create a decent jobs market for their twenty-something children and middle aged husbands.
My recommendation to young men—emigrate.
Peter Morici is an economist and professor at the Smith School of Business, University of Maryland, and a widely published columnist. He tweets @pmorici1