What we need to do is this:
1. Cut the deficit. It needs to be under $500B next year, and running surpluses within 4 years.
2. Complete regulatory reform. Especially in environmental law, but generally across the board. Business interests might be on equal footing with regulatory goals, and the courts and regulatory agencies limited as well as greatly reducing the RICO type activities our special interest groups in shaping regulation.
3. The tax code must be simplified and flattened, and also weighted in favor of new business startups, expansion, and small business. I think some type of national sales tax should be enacted.
4. The fed needs to quit printing money and giving it to banks and brokerages. Severely tighten Fannie and Freddie rules so we don’t restart the junk mortgage conduit.
5. Radical reform of all welfare programs to get rid of fraud and waste.
6. Ensure secure and reliable energy supplies with domestic drilling and exploration with favor given to extraction, refining and selling our oil in the U.S.
There is no magic here. All it takes is political will.
Not on your list is a reduction in benefits from social security, medicare, and medicade. Without cuts to these, there is no fix.