- - Tuesday, August 5, 2014

New York—You have a nagging sense that American government is broken now, perhaps beyond repair.

Meanwhile, your hackles rise daily as numerous geopolitical flashpoints smolder and explode, while emboldened rivals such as Russia and China rise up to threaten and challenge America’s foreign interests.

You understand that nations falter, and that even great ones are vulnerable — you certainly do not want to suffer the consequences of total failure seen in smaller countries such as Argentina and Libya.

You do not trust politicians, bureaucrats, cronies, professors and most pundits to solve the problems that you see so clearly in your own daily lives.

Yet, you do not have time to put forward a comprehensive solution — you are too busy striving to keep your own job, nurture your family and save for retirement.

So, you wait for someone else to develop a plan that you believe might actually work — one that addresses the underlying problems America faces.

Here, in all this gloom, is one piece of good news — starting Friday, I will share a 10-point plan designed to: (A) reign in America’s bloated, profligate and hitherto unresponsive government; and (B) restore vitality in our private sector by playing to America’s competitive strengths.

I will cover each element of the 10-point plan separately, point-by-point and provide helpful links so you can decide for yourselves how much sense each specific suggestion and the entire plan may make.

Along the way, I will entertain constructive suggestions and even debate those with differing views on my weekly podcast, “On the Money,” and in other suitable forums.

Once each of the 10 points is explained and explored with our audience, I will sum up and encourage those with spare time to engage our elected officials in the work they are supposed to be doing — serving the best interests of we, the people.

Fixing the largest mess ever created by adults

Sitting passively until now, we have created an unresponsive, unaccountable monster — not one government but a maze of federal, regional, state and local entities with visible “leaders” and invisible masters behind the scene.

This monster is crushing realistic hope for the 105.5 million Americans who are under 25 years of age by drowning them in deficits and debts they will eventually struggle to repay, or bear the consequences so evident in other perennially profligate places.

Whether you are poor, middle class or rich, the largest single expenditure you make each year is actually on government.

In 2013, American government entities spent a whopping $5,791.2 billion. To put this figure in perspective, understand that only one of the 227 other nations on Earth produces more in total than we Americans spent last year on government alone.

You may not notice the entire cost of government because it is buried inside the cost of each thing you purchase, taken from your incomes and stolen from you by inflation.

Some portions of government deliver benefits far greater than their cost — the peace we know inside our borders brought to us by the selfless service of our military is one example, and there are others.

Still, you deserve to end up with far more in terms of tangible benefits than each of you get after all these massive amounts are spent on government.

Restoring the American Dream

To build upon our strengths, we must recognize them — the path forward emerges from close study of our shared history as well as objective understanding of America’s competitive position, compared to other nations’.

In this regard, John Adams was so correct in 1770 when he noted : “whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence.”

Until recently, Americans have been content to ignore important facts about the state of our government and our economy.

Six years following an historic and, theoretically unifying, election, Americans across the political spectrum awake daily before brutal reality — following unprecedented and expensive intervention by government and our central bank, most of us cannot today pay our bills, let alone save for a secure retirement.

To exist and to prosper, Americans need jobs in growing businesses that make products and provide services, which customers worldwide believe are actually useful.

Though President Obama says otherwise, truth is simple enough — slogans do not pay bills or create lasting prosperity for a nation, only hard work does so.

Beginning Friday, let us join together to put American government on the diet it must follow, and then harness its considerable power for our common benefit.

Next: Part 1, America will flourish again with a strong dollar.

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