Summary

We have described a “Manhattan Project” level initiative to not only jumpstart the economy, but to transform it to the new economy based on the true market forces that would influence it. The Investment in American Ingenuity Act is a direct injection into the economy by investing in the American people. This investment is far from a hand-out or entitlement. It is rooted in a belief that the next great industries are waiting to be born, and the people out there to help them come to life are in need of resources to do it.

The IAIA program is not an on-going government bureaucracy, but a temporary program, much like CARS, but with a much broader scope. The $200B price tag is a steep one, but benefits are direct. The majority of this funding will be invested in the private sector. Fiscal conservatives will not be friends of this program, but those who believe in the free market and business investment will recognize that every aspect of the economy will be the beneficiary. Jobs will be created, new industries will be born, current industries see new revenue, banks will see direct insertions of revenue, venture capital firms will see the explosion of new investment opportunities, and the list goes on and on.

The excitement that this program would generate would be overwhelming. Instead of wildly unpopular bailouts of separate industries, this would be seen as a direct investment in the lives of American people. This will allow them to make the decisions while realizing life-long dreams. There would only need to be a few major success stories in order to make the program work. The media would continue to track the progress of the program and report on its success or failure. The network of global business-to-business that could be established because of it would be staggering, and the program would probably become a model for many other countries as they also attempt to navigate in the economic maelstrom they find themselves in.

Finally, this is a program that can be implemented as easily and as apparently successful as the CARS program was. The risk is great with regards to the debt incurred, but the potential reward is much greater. A rejuvenated economy would treat a multitude of ailments.

(c) 2009 Chance M. Glenn, Sr.