Recently, I was asked to share my views on what should be “priority one” for President Elect Barack Obama.  He is no doubt being given advice and perspective from a wide circle of trusted advisors.  I took the task on as a great exercise in honing my own thoughts, coming from my own experience as a CEO and as a recent participant in the political process in which I was often asked to comment on economic issues.  Here is what I put forward…  

America’s economic vitality must be priority one, as this is the foundation for both   global political power and military might.  Technology and globalization offer limitless possibilities, but they also present new challenges to America’s economic leadership.  Brain-power, innovation and entrepreneurship are the keys to 21st century prosperity.  The new President should focus on pro-growth tax policies, incentives for job-creation and investments in innovation, worker re-training and education.  

America levies the second-highest business tax-rate in the world.  A lower rate will keep more jobs here.   

Small business is the engine of economic growth.  We must make it easier for small businesses to form, hire and prosper.

We must invest more in both privately-financed and publicly-funded R&D.    

We must lead in the innovative industries of this century, including energy, healthcare, space and info-tech.  

We must prepare our current and future work-force to tackle new jobs with new skills.      

We must encourage investment by keeping capital gains and dividend taxes low.  

We must enact comprehensive immigration reform so that America continues to attract entrepreneurs, risk-takers and hard-working people from all over the world.    

And we must engage fully in the world if we are to lead.  We must embrace free-trade with new enthusiasm.

America’s economic vitality—the very foundation for both global political power and military might—depends on it.