Critical Actions for Economic Growth

1. Elect a new administration in 2012 hopefully by the largest landslide ever. Candidates like Gingrich or Paul with visions of dramatic change, less government and fiscal responsibility are preferred. we need a president with Courage for Change and only motive to do what is right and in the best interest of the country. Hopefully, the electorate will clean house of the members of Congress up for re-election as well.
2. Present a plan to balance the budget within 3 years. Enact a balanced budget amendment to require accountability thereafter. The plan would be to accomplish the balancing with 90% across the board spending cuts. Entitlement reforms including Social Security to be included. As people live longer  a gradually increasing retirement, qualifying age makes sense and is essential. Compensation and benefits of federal government employees must be brought in line with what they are in the private sector. Defense must be a part of the cuts and with proper evaluation and scrutiny we can reduce the costs and maintain strength militarily.
3. Replace our outdated, complex tax system with a flat tax, very simple and fair. Enact a similar Corporate tax structure. Eliminate deductions and loopholes.
4. Replace Mr, Bernanke as Fed. chief. Hopefully, a candidate to focus primarily on controlling inflation and protecting the integrity of the dollar. Tighten up the current loose monetary policy.
5. Phase out Freddie and Fannie within 3 years. Get the government, now controlling 90% of the mortgages, out of the housing & financing business.
6. Freeze all government regulations. Re-evaluate new regulations enacted  during the Obama administration.
7. Cancel Obamacare. Relax the territorial regulations to allow competition across the country, not just by state.
8. Impliment a plan for energy independence. Within this country we have the resources to not have to depend on other countries for the rest of this century and possibly beyond. The problem is all the regulations and laws preventing projects from moving forward for drilling oil and further developing the use of natural gas. This can occur while maintaining the integrity of our environment. Example right now, a pipeline to supply large amounts to our country is being blocked by the administration coincidentally until after 2012. Next year we are likely to see $4.50 to $5 gasoline costs, perhaps much higher in a few years unless action is taken to ENCOURAGE energy development.
9. Constitutional, legal reforms to impose term limits on elected officials, perhaps single, in some cases slightly longer terms. We don't need permanent life long politicians! The idea is they come in with no political motives; their motivation is to do the right thing in the best interest of the country with their legacy judged accordingly. Another idea that may have merit as suggested by R.Perry is part time legislators. Lets get the politics out of the decisionmaking! We also need to enforce the law as to the government passing a budget each year and have negative consequences if not. How about no more paychecks beyond a yearly deadline?
10. Sell surplus assets owned by the US government. I suspect the value of this property amounts to a trillion or more. This could be used to pay down the debt.
11. Re-establish our reputation as a world leader by getting our act together financially and encouraging greater cooperation with other countries to promote trade and work together to address world problems that the US has often had to deal with on its own in the past.