New America Policy Papers: 2003

To greatly expand opportunity, to broaden asset ownership, and to fortify the American economy for the long-haul, an American Stakeholder Account (ASA) should be established for every child born in America and made available to all other persons age 18 and under. Over time, this “Homestead Act of the 21st Century” will evolve into a universal system through which all Americans can meet their asset needs throughout life— securing post-secondary education and life-long learning, purchasing a first home, making investments, starting a small business, and building up a nest-egg for retirement.

Each day, between the hours of waking, working, and sleeping, we unconsciously interact with an incredible variety of unlicensed devices. From controlling the garage door and monitoring the baby, to microwaving breakfast and speaking on a cordless phone, to keyless entry to a workplace and turning off the television via remote control, our interactions with unlicensed devices have become second nature. And each day, whether most of us realize it or not, we go to bed not having to pay a cent to anyone for the right to do these things.

We are posting J.H. Snider and Benjamin I. Page's 1997 study on the media ownership debate because it has become relevant. At a hearing on media ownership on May 13, 2003, Senate Commerce Committee Chair John McCain waved the study at a media mogul on the panel and said: "Do you think this is an anomaly?" McCain's comment and the study to which it referred were subsequently featured on the front page of the business section in The Washington Post (Frank Ahrens, "FCC Sees Local Gain to Age of Max Media," May 16, 2003, p. E1).

The United States is now more isolated from its major allies and more internally divided over foreign policy than at any time since 1945. The strategy of the Bush administration -- and not merely its style -- is to blame.