The most severe burden on the economy right now is the depression in high technology and telecommunications--our two biggest drivers of productivity growth and most important sources of national wealth and security.
The Clinton-Gore telecommunications policy, which is still in effect, has been an unmitigated disaster. The Clinton FCC's heavy-handed re-regulation of the industry is largely to blame for the slow rollout of last-mile broadband connections to homes and businesses and thus the telecommunications meltdown. Real broadband means video-capable, and while the technology exists, it has been minimally deployed.
Fortunately, there is much this Administration can do unilaterally to deregulate the telecom/Internet sector and unleash the capital investment that (1) feeds the entire semiconductor, computer, and fiber optics food chain and (2) will finally bring us a real broadband Internet, fulfilling the original hopes of a new global marketplace of products, services, ideas, and entertainment. Unleash[ing] broadband [will] create a sustainable economic expansion.