Mike Munger, former Libertarian Party candidate for NC governor, recommends some steps to get past this economic morass.

I’ll summarize, but you should really go and check out the article.

  1. Single Payer Healthcare, to divorce healthcare from employment compensation.
  2. Cuts to the military, while reducing mission.
  3. Cut the deficit with tax increases and spending cuts
  4. Pay for Social Security by removing the tax cap, and means-testing the rest.
  5. Reduce business uncertainty by slowing down the pace of regulation.
  6. Cut corporate tax rate to 20%, but remove all loopholes to ensure it is actually paid.

Pretty interesting, and in my opinion we’re going to be forced to do a lot of these things eventually, but we’re going to wait long enough for it to be much more messy and painful than it had to be.