The obvious solution is more workers, especially in critical jobs like information services, healthcare, construction and transportation. We need both laborers and skilled workers and we're going to need them in increasing numbers fairly quickly. Part of the solution lies in Mexico, where both moderately skilled and unskilled workers are eager to find opportunities in the United States. Easing that process and getting the workers where they are needed should be a top priority of government. That doesn't mean just opening the borders or giving amnesty to every illegal immigrant, but it does mean keeping them in the labor pool but making sure they have jobs and aren't criminals and then giving them guest worker visas. It also means making guest worker visas numerous and long term in the future to attract more qualified workers.
Mexican workers may help out with the construction and transportation industries, but we're going to need more technically skilled workers as well. Active recruitment of workers from other parts of the developed world is already going on. Hindi doctors are well on their way to becoming as much of a ubiquitous cliche here as they are in Britain, and the flood of immigrants from the far east into our technical and scientific graduate schools is impossible to ignore. Most of these students would love to stay in the United States if jobs are available and the government makes visas easy to get. Even the lowest entry salary our technical industries pay will outstrip whatever they might earn at home.
We also need to make better use of our homegrown workers. Our public schools are not doing an adequate job preparing workers for the kinds of jobs which they ought to be pursuing. We need to increase the amount of technical training available in high schools and make it easier to attend technical schools and colleges with more scholarships and better loan programs. We ought to be able to graduate kids from high school with the technical skills to go directly into the workforce as healthcare workers and technicians where they are most needed.
Another option worth considering is raising the retirement age, to limit mandatory retirement and discourage voluntary early retirement. This will help keep more workers in the workforce longer and limit the "brain drain" of our most experienced and skilled workers. People live longer now than when the retirement age was set, and the overextended social security system would also benefit enormously from workers paying in a bit longer and taking money out for a few less years. Raising the social security retirement age to 68 makes a great deal of sense, along with incentives to encourage private retirement programs to follow suit.