As I read the exuberance and support for the president by the GOP candidates seeking the nomination for the 4th District, I thought I would share my take on the challenges the next president will face.
Even assuming there will be a treatment and a vaccine for the COVID-19 virus, the next president will face a greatly diminished economy, meaning less revenue to the federal coffers.
The economy was growing on average about 2% to 2.5% over the last decade. The expansion of the stock market by 30% was not based on fundamentals and has come down to reality. The tax cut added $1.5 trillion to the federal debt, along with the additional debt taken on by the current congressional legislation.
Unemployment will reach 30 million, meaning less revenue again for the federal government. A protectionist governmental policy only adds to the cost of goods and eventually passed on to the consumer.
Though the states have the responsibility for the education of our young people, the federal government can create incentives to help the states reform their curriculum for the 21st century. It is through our educational system that we ensure the survival of our Republic by preparing and training our next generation.
The "America First" concept is too limiting where a global approach is needed to address domestic and international challenges. The president will have to find a way to restore our global leadership with our allies. Respect and trust go a long way in restoring our relationship with our allies and in exporting our democratic values. China as a rising power needs to be challenged, again it cannot be done effectively and efficiently without our allies.
These are but a few of the challenges the next president will face.
George Kandilakis, Sandy
