How can we solve America’s economic woes?

Question:

How can you balance the budget, pay off the debt, and slash spending without doing away with entitlements, like Social Security and Medicare, that people have paid into for decades?

Answer:

We can only balance the budget by privatizing entitlements like Social Security and Medicare and ending foreign wars. The ONLY way we can keep the promises made to our seniors without massive inflation is to increase our rate of wealth creation. One way to do that is by deregulating business. Each regulator destroys about 150 private sector jobs each year, so each one fired is true economic stimulus.

Another way to increase wealth creation is to cut the tax rate and end tariffs and other barriers to importation. This drives domestic capital into efficient businesses, stimulating the economy further. Even at lower tax rates, a robust economy means more tax dollars collected to offset the entitlement programs, which should be privatized ASAP so that young people aren’t forced into these Ponzi schemes.