So Now What

How do we move forward?

We have increased our debt, we will be taxing our economy to death, and inflation is going to grow.

1. Cut spending! Our federal government exists to provide for national security, protect interstate commerce, and protect our rights. It is not there to provide welfare, regulate agriculture, take over businesses, create energy policy, health care, etc. Let the states take care of those types of things. Our nation was founded on a way for states to compete against each other under the same rules. Now our government is trying to buy the states. Cut spending, and we will see our deficit become more controllable.
2. After you cut spending, it is time to decrease those taxes. Some like the flat tax, some like no income tax (but an increased sales tax and tariffs), but taxes hurt the economy. If you cut corporate taxes, more jobs can be created, less cost is passed onto the consumer, more companies keep business in the US. It goes without saying all of these are good for the economy. The less you tax the individuals, the more money that can be spent. This has been proven time and time again throughout the world.
3. When 1 and 2 are successful, it is time to reduce government. Myself, I would only have the following departments; state, commerce, defense, treasury, homeland security. Start privatizing things that can be handled better by the private sector: interstates, welfare/charity, social security/medicare, etc.
4. All of the businesses that the government has bought stake in, sell them. Try to sell them at the best price possible, at a loss if necessary. Use that money to pay off the deficit.

My two cents.