1. Aggressively audit every Federal, state and local government agency and used the audit results to start cutting down the size of government--agency size and regulations--by 30% initially and over 50% in around four years. For example, we need to merge Social Security, Medicare and other social services into a singular Department and potentially save over US$300 billion per year off the Federal budget.
2. Massively overhaul our income tax system to reduce compliance cost and to encourage American residents and businesses to keep their savings and capital investments in the USA. The flat income tax plan proposed by Steve Forbes in a book he wrote in 2005 should be at minimum what tax reform should be, in my humble opinion.
3. Aggressively oversee the financial markets by requiring real liquidity backing for hedge funds, derivatives, and other "new"-style investments (or ban them outright as financially too risky), increasing the minimum margin requirements (MMR) for futures trading to 20% (and require the buyer take 40% physical delivery of goods bought on the futures market), and re-imposing the Glass-Steagall Act to "firewall" bank assets from the ups and downs of the stock market. Too much of the wealth generated nowadays is through the financial markets at the expense of almost everything else in the US economy, in my humble opinion.
Somehow, the "egghead" economists who work for the Obama Administration don't understand just these three fixes would go a LONG way towards real economic recovery. By freeing up more financial resources normally taken by government, encouraging the keeping of savings and capital investments in the USA, and stopping the financial excesses of Wall Street, it does the best thing of all: bringing back the manufacturing base, which would quickly cut the unemployment rate, and with companies now back operating in the USA, it also means potentially much higher tax revenue to the government, which could mean finally we can tackle the issues of government debt and how to save Social Security and Medicare.
Agree 100% with your suggestions, but.....
Imam Ozero is NOT interested in fixing the US economy.
Imam Ozero WANTS the US economy to fail and force more Americans to depend on Fed government.
Imam Ozero wants to overthrow America’s free market, Contitution based system and replace with his marxist beliefs.
You want to fix the US economy via an “aggressive audit”??? You sound like an incumbent congressman — you are FAR too timid. We can only save the nation via a huge rollback of government and complete abolition of about 2/3 of the agencies of fedzilla.
You are correct in your statements. However you should add item #4 to the statements.
Item #4 should be to review and immediately identify and end “OVERLAP.” ALL governmental offices strive to do the work and obtain the responsibility of some other governmental agency’s chartered functions so that they can “empire build” and grow larger.
Government overlap is tremendous and you might have 150 agencies doing at least some of the duties that duplicate the original chartered agency’s founding duties.
On top of that, the CFR (Code of Federal Regulations) has grown to the point that it is almost impossible to actually pin down any SINGLE agency’s regulations that don’t conflict with some other agency that has encroached upon their founding charter.
What all of this amounts to is a massive expenditure of taxpayer money to pay for governmental functions that only need ONE agency to run...not hundreds of them.