I am going to take my proposal one step further. This will be the greatest thing ever to happen to the US economy since the industrial revolution.
Its kinda like a reversed domino effect. This will create a unique market in America. Not only will electricity be very cheap and abundent. It will make money for the Federal Government, money which can be used to do two things. First off, you can cut taxes, but I have a much better idea.
When the whole process starts, the Government crunches some numbers, and distributes a very large grant among the leading car companies in America. They tell them the plan. The added money, and maybe some Government manpower, goes 100% into researching electric powered cars. The result?
More jobs. Its not secret the foreign car industry depends on America. Its also no secret its beating America in the competition for better cars. This move will single handedly bring the car business back to detroit (and elsewere). Hundreds of Thousands of jobs will be created. Also, the car companies will have a huge market of sellers. Again, mostly all of them will be American citizens.
But the Tech market will also be revived. This move will do two things for the market. First off, and more importantly, these car parts will require many, many new parts. Most of them are already developed and used for other products. However, never before has such demand fallen upon the computer industry. It will give a huge boost, as now every American citizen will end up buying, indirectly, from these tech companies. Secondly, the more jobs (and therefore, better economy), will put more money out to the average consumer. This means more people buying luxery products, which not only boosts the entire economy, but especially helps the tech industry.
Now the US economy has been well revived. People are spending less money on fuel and electricity. Jobs are aplenty, and our Government is saving a vast amount of money. No doubt, you’ll see a tax cut, which will further fuel the economy. The value of the dollar will raise. Our military will be able to pull out of the oil regions of the world, and we’ll save further billions when the aid packages stop to Israel and Saudi Arabia.
When the dollar raises, the Yen and the Euro falls. This will attract foreign business away from Japan and Europe (mainly Japan). This will further strengthen the American car industry, since Japan is where their major competitors are. Again, hurts the Yen and raises the dollar.
I’ll keep going after I see what you guys think. And yes (my parents were sceptical) I did write this myself )