Juan Enriquez (2008) Pop!Tech Pop!Cast from PopTech on Vimeo.
This is quite possibly the smartest man in America. He explains what happened to us and how to get out of this big mess we’re in. The video is about a half hour long, so pour yourself a glass of cabernet, get a tub of Haagen Dazs Rum Raisin ice cream, and get yourself some free education.
If you don’t have time for that, in a nutshell, here are the 10 commandments, which link back to his presentation:
1. We have to save the dollar (AAA rating in jeopardy)
2. We have to fundamentally and brutally restructure debt
3. All entitlements are fair game. To begin with…
a. If you are 60 to 65 you probably just lost a big chunk of your nest egg.
(we don’t want anything from you)
b. If you are 55 to 60, we need two more years’ work from you
c. 55 and under, we need three or four more years from you
4. Cut back military by 2% per year for ten years
5. Cap medical costs at 18% GNP (going to be a cat fight, but we need to have it)
6. We have to triage our support for companies (don’t attempt to save dying whales)
7. The program has to be bipartisan. It has to make both Dems and Repubs unhappy
8. Simplify and broadly apply Sarbanes Oxley – apply it to government, apply it to hedge funds
9. We will invest in growing start up companies (which create the most jobs – this is where the economy is growing)
10. We will treat education as a varsity sport (and continue to recruit foreign PhDs)