Whether you think we are in a recession, depression, contraction, correction, or whatever, the key point is, our economy is headed for a complete and utter collapse in 5-7 years if we don’t act now. Bailing out companies that are built on worthless assets might stave off the trouble for a little while but it can’t fix the root problem. There are a whole host of things we should do as a country to restore our status as the best country on Earth.

1. Get back on a gold standard. This is essential to many of the other ideas, simply because it puts a limit on how much the government can spend (and waste). The government should be run like any other business, and at least attempt to spend within its means. Going to a gold standard would be a solid step in that direction.

2. Phase in the FairTax/phase out the IRS. There are several benefits to doing this. People traveling here from other countries (illegal aliens included) would contribute to our country. So would most, if not all, of the underground economy. Workers earning tips would contribute their fair share. Rich businessmen who shelter their money offshore would contribute. This is the best way to close all tax “loopholes” and to reduce the burden on honest taxpayers. It’s also very transparent, and allows savings and investment to grow faster. Plus it saves compliance costs and could allow us to eliminate the IRS and replace it with a smaller agency in charge of collecting the tax from retailers.

3. End the war on drugs. Clearly all the billions we are spending trying to decrease drug use is not working. People have a strong desire to use chemicals and substances to get high, buzzed, or just escape reality. The suppliers will always be at least a step ahead of regulation. Ending this war on drugs and legalizing them would clean up the streets and it could be treated similarly to cigarettes.

4. Privatize Social Security. People always get this one wrong, claiming that they don’t want to “gamble” with their life savings. The fact is, over a 30 year timeframe the markets have shown great returns. Anyone who can’t survive because their investments have gone down 15% in a year is too heavily invested in risky vehicles. As of now, there is no guarantee that you will get your money back if you pay into the system, so for younger generations, the better option would be simply investing their Social Security money in a simple savings account. The real “gambling” goes on when you allow the government to take your payments and use the money however the hell they see fit, which is what goes on now.

5. Eliminate the Department of Education. Our schools are a joke. We spend billions and the results are horrible. That’s what you get without competition. Funny how the government tries to break up monopolies in the private sector, but can’t survive without being one.

6. Privatize roads/jails/bridges. Our infrastructure is crumbling. We can’t afford to fix it, so maybe we should hand it over to private companies. There’s no sound reason the government builds our roads and bridges and there’s no reason they should manage the jails. All we get is waste.

7. End the Iraq/Afghanistan etc wars. Can someone tell me why we are in these areas, and who we are at war with? There will always be countries that don’t like us, but we can’t afford to just go to war with them for that reason. There’s no credible threat of another 9/11 style attack, and being at war with these countries might actually make us more vulnerable.

8. Get out of the UN. We don’t listen to them anyway, so what’s the point of belonging?

9. Eliminate the Federal Reserve. Clearly, free markets can set interest rates on their own. We don’t need rates set to protect us from inflation, deflation, recession, etc. by anyone except the market itself. When the Fed sets rates based on often faulty assumptions, it distorts the market and the economy as a whole.

10. Allow at least one other party besides Republican and Democrat at the debates. Setting the bar at 15% of the votes is insane. We need some fresh ideas and candidates to be heard. Without exposure, smaller candidates don’t have a chance.

11. Every citizen should be entitled to a report showing where their money goes. Any government spending over, say, $5m should be accounted for and listed on this report. Somewhere along the line we forgot that government works for us, that without OUR money they wouldn’t have any power at all. All the extra money the government would save by adopting the steps above would more than pay for such a report.

And that can’t be further from the truth. In reality, Social Security is…

• Morally questionable at best (forced labor)
• Unaccountable, as there is no clear separation between Social Security funds and other government expenditures
• Unsustainable, with the proportion of payees and recipients dwindling due to people living longer, illegal immigrants, and other factors

Social Security is Morally Questionable

Is there any reason I can’t save for retirement and old age on my own? Of course not. People did it for centuries before Social Security came about. Secondly, is there a legitimate reason why I could be forced to save for someone else’s “Social Security?” Again, no. The truth about Social Security is that it robs and enslaves Americans, and hinders economic growth while stifling freedom and liberty both now and in the future.

Social Security is Unaccountable and Unsustainable

Now, in the year 2008, the Social Security system is both morally and economically bankrupt. We are still forcing working Americans to fund the “golden years” for other Americans, with no real choice in the matter. However, not only is there no specific fund for Social Security, there isn’t even money to fund it beyond the next 15-20 years!

It is possible (although certainly not moral or economic), for 3 or 4 working Americans to support 1 or 2 retired people. Possible does not make it morally acceptable or desirous, but possible nonetheless. However, can you expect those same 3 or 4 working Americans to support an ever growing number of retirees? These working Americans have their own bills to pay, their own families to support, and now we are burdening them with an ever growing number of dependents?

And Then There’s Inflation…

This doesn’t even take into account the role inflation has on the Social Security scam (has a nifty ring to it, doesn’t it?) If we factor in inflation, we get this not so rosy picture of the future of Social Security:

Say I pay in $20,000 in my lifetime into Social Security. Not only do I not know where this money is going or if I will even get it back, if I ever do get paid, my money will purchase less and less than it would if I just took the cash I earned and stuffed it in my mattress. God forbid I put it in a low risk investment such as a CD, or (shhh!) my own personal 401k or Roth IRA.

So if you are under 50 and working in this country, you are looking at the following scenario: Forced labor, no transparency as to where your money is going, a broken system, and a repayment of your money that is less than what you paid in (in real terms).

The Government’s “Solution” Perpetuates The Problem

This would be hilarious if it weren’t so sad and true: There is no real push to eliminate Social Security! Some in the government actually want to increase the earnings cap and thus tax earnings even more to make up for the shortfall!

Only in government would this fly: We’re facing a huge shortfall, we have trillions in unfunded liabilities, so instead of even considering a different direction, let’s just tax and tax and tax and throw more and more money at the problem. Don’t even give people the option (there’s that pesky freedom thing again) of opting out of Social Security, just tax them some more and see where it gets us.