27.MakingAmericaGreatAgain
TheexperiencewithChryslershowedwhatcanbeachievedwheneffortsofmanygroupsarecombinedandconcentratedononespecificissue.ThesameapproachshouldbetakentoreducetheAmericannationaldeficit.AsuggestedapproachbyLeeIacoccawouldbetocut$15billionoutofthegovernmentexpenditurebypruning5%offthedefensebudgetandmatchingthosesavingswithsocialprogramcuts.Atthesametime,raiseanadditional$30billionrevenuebyasurtaxonimportedoilpricesanda15centpergallontaxatthepumps.
Americahaslostitsleadershipintheindustrializedworld.Fromanationwhosestrengthhasalwaysflowedfrominvestmentsintheproductionandconsumptionofgoods,Americahassomehowturnedintoanationenamoredwithinvestinginpaper.Thebiggestcompaniesarepouringhugesumsofmoneyintothestockofothercompanies.Mostofthatmoneyendsupinbanksandotherfinancialinstitutions.Newfinancialinstrumentsarebeingdevelopedsimplytoabsorbconsumerpurchasingpowerandenrichthefinancialengineers.Somuchcapitalisproducingnothingoflastingvalue.
LeeIacocca'ssixpointprogramformingthebasisofanindustrialpolicywouldbe：
1.Provideforenergyindependencebytaxingforeignenergyattheportandatthepumptorestoretheconservationethicandrekindleinvestmentinalternateformsofenergy.
2.ProvideforspecificlimitstoJapan'smarketshareforcertaincriticalindustries.Noonecanaffordatradingpartnerwhoinsistsontherighttosellbutwhorefusestobuy.
3.Facerealityongovernmentspendingandbalancethebudget.
4.Providespecialeducationgrantsandloanstoencouragestudentstostudyhigh-technologyfields.
5.Providenewincentivestoincreaseresearchanddevelopmenteffortsintheprivatesectorandtoacceleratefactorymodernizationandproductivityincriticalindustries.OneapproachwouldbetoofferinvestmenttaxcreditsforR＆Dand12-monthdepreciationwrite-offsforproductivityrelatedinvestment.
6.Establishalong-termprogramforrebuildingthenationaltransportsystemtoprovideamorecostefficientinfrastructureforindustry.