Although the United States has the largest economy in the world, it has vulnerabilities. The growth rate of productivity has slowed. The U.S. net national savings rate is at an all-time low. The nation's educational system is performing well below the best international levels. A disenchanted electorate views federal institutions with increasing cynicism and mistrust. The Strengthening of America Commission proposes a specific blueprint for action to get the nation's fiscal house in order that combines budget deficit reduction with the replacement of the current tax code by a progressive consumption-based tax. The commission recommends three principal initiatives to support a human resources investment strategy: a new system of national standards at the secondary school level; expanded programs of training and apprenticeships for students who enter the work force directly after secondary school and expanded work force training programs; and a comprehensive effort to promote school readiness in young children. The commission also recommends that the government provide an economic environment that helps strengthen the U.S. industrial base. To help break the gridlock in government, the commission recommends structural reforms within the executive and legislative branches. (Appendixes include the following: meeting agendas; staff and working group lists; 128-item bibliography divided into sections concerning capital formation, fiscal policy, human resources, manufacturing and technology, and making Washington work; and separate opinions of commission members.) (YLB)
America’s nuclear energy industry is in decline. Low natural gas prices, financing hurdles, failure to find a permanent repository for high-level nuclear waste, reactions to the Fukushima accident in Japan, and other factors are hastening the day when existing U.S. reactors become uneconomic. The decline of the U.S. nuclear energy industry could be much more rapid than policy makers and stakeholders anticipate. China, India, Russia, and others plan on adding nuclear technology to their mix, furthering the spread of nuclear materials around the globe. U.S. companies must meet a significant share of this demand for nuclear technology, but U.S. firms are currently at a competitive disadvantage due to restrictive and otherwise unsupportive export policies. Without a strong commercial presence in new markets, America’s ability to influence nonproliferation policies and nuclear safety behaviors worldwide is bound to diminish. The United States cannot afford to become irrelevant in a new nuclear age.
This report of the CSIS Asia Economic Strategy Commission presents a comprehensive, bipartisan economic strategy for the United States to pursue its vital interests in the Asia-Pacific region. The report is intended to help the new administration carry out a dynamic, forward-looking economic strategy, which will promote growth, jobs, and security in the United States and across the Asia Pacific.
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