Nucor CEO On Strengthening the US Economy
The U.S. needs to create 30 million jobs, Nucor CEO Dan DiMicco told Cramer Thursday. For that kind of job creation to happen, DiMicco offered his three-point plan for a better America.
First, DiMicco would like to see the U.S. obtain energy independence by way of natural gas, oil and green energy sources.
"They use a lot of steel in windmills and in solar farms," DiMicco said. "So we're not opposed to a broad-based development of energy resources in this country, so we can become more energy independent, quit sending our dollars overseas and [instead,] have them recycled here at home."
Second, DiMicco said the U.S. needs to get the trade deficit in the manufactured goods sector under control. He suggested that by manipulating its currency, China is mainly to blame for this problem.
"Our government's gotta recognize what our states had learned along time ago — they need to be competitive on a global basis to facilitate the private sector to compete against governments around the world, who have these huge, national strategies for manufacturing," DiMicco said.
Third, the U.S. needs to invest in areas that not only produce long-term return, but create jobs. He would like to see improvements made to infrastructure, in particular, which would boost the construction and manufacturing sectors.
In addition, DiMicco called for a competitive tax structure and an end to hefty government regulation.
To see the full interview, watch the video.
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