We Americans are feeling very frustrated. Our economy has not yet adequately recovered, and it probably won’t look much better until after the presidential election in November.

Last week’s Republican National Convention is over. Mitt Romney and Paul Ryan had the opportunity to lay out their vision for the nation. This week, the Democrats have the chance to make their case.

Both sides are courting the independent voters, particularly the small group who are thought to be swing voters. They are the ones whose decisions on Election Day may determine the election results.

There is not as much enthusiasm for President Barack Obama as there was in the 2008 election, among younger voters, in the 20- to 30-year-old range, and middle class workers. According to a Gallup Poll survey done last month, a majority of voters in key swing states feel that they are not better off today than they were four years ago.

In a race that is almost dead even, how potential voters feel about three major issues are likely to determine the outcome: The economy, the growth of jobs and Medicare.

Our economy is in trouble right now. Our government’s stimulus packages have not been successful. Our national debt has climbed to $16 trillion, with no relief in sight. If we want to clean up our financial mess, the solution is simple: Our federal government needs to cut spending, reduce entitlement programs and revise tax revenue policies.

A credible compromise plan, with bi-partisan support, can determine the steps to follow in order to get the economy started again. We need a road map to increase tax revenues and close tax loopholes. The Federal Reserve needs to offer incentives to banks to make more small business loans. It can be accomplished by keeping interest rates low, and by lowering the Federal Reserve requirement amounts placed on banks, for those that increase loans to small businesses. Also, excessive industry regulations on small businesses must be substantially reduced, to encourage business owners to invest, expand and hire more workers.

Jobs are at stake. Right now, we still have more than 8 percent unemployed. That is more than 12 million people who are unemployed. Whatever President Obama is doing is not enough. He talks about energy programs, but then holds up on doing anything about it. New gas, coal and oil drilling in America need to start in all states, with special emphasis in Alaska and Texas. Approving new drilling can create more than one million new jobs.

Even in our down economy, there are jobs going unfilled, because many of the unemployed lack the skills to get hired for those jobs. Also, many people on welfare have to learn job skills and take training programs that will lead to filling entry-level job openings. As work experience and the economy improve, their standard of living will get better and their wages will increase. Our welfare system needs to be overhauled so that those on welfare who are capable of working are required to go back into the workforce to earn a living.

How will either political party work to protect Medicare? Medicare could run out of money in about 20 years, unless changes are made now. Republican Vice Presidential candidate Paul Ryan wants future beneficiaries to receive vouchers allowing them to purchase insurance from private carriers. Some advisers believe private insurers may not supply ample payment coverage in the future. Those persons 55 years or older, regardless of income, would have absolutely no change in their coverage with Medicare today.

With the Affordable Care Act, President Obama has taken $716 billion out of Medicare to bankroll his health care program. The only way to continue Medicare in the future is probably to implement it through the Affordable Care Act. Companies with 50 employees or more will be taxed for any employee not covered with insurance. To help pay for Obamacare, a 3.6 percent tax will be added to all home sales by married income earners with more than $250,000 income or single income earners of more than $200,000 per year. Other changes will have to be made by increasing employee wage deductions, increasing retirement age to at least 67 and the wealthier income brackets could have less coverage in the system.

The race is almost dead even right now. The outcome will likely depend on how the public feels about any one, or all, of those critical three issues ”“ the economy, jobs and Medicare.

— Bernard Featherman is a business columnist for the Journal Tribune and former president of the Biddeford-Saco Chamber of Commerce.