Steps to restoring the American Economy:

The first step is to make politicians pay their debts no longer. The second step is to reform the Federal Reserve: make its appointees subject to a super majority of the senate rather than a small majority. The third step is to enact the Bill "Inexpensive money." The bill annually forces the Federal Reserve to reduce the value of the USD by 10% every year, the penalty for not achieving this will be a recall election for the head of the Board of Governors, who normally keeps his or her office for over a decade. If it is a simple majority for yes, then the Vice President will have the final say. The president will then choose a new candidate, and these new candidates will be subject to normal approving. This is designed to control money inflation that has hurt our export-focus factories. However, the trade off will be more expensive imported goods, as it will become more expensive for American companies to purchase foreign currency for purchase. But likewise, American goods will be cheaper overseas. I recommend a bill because at some point it may become prudent to relatively quickly make it null in the future. The growth created by this bill will decrease the deficit but it won't increase annual inflation. I do not recommend an international gold standard because a stable currency is imprudent, and it hampers the private sector and the Fed in creating money, perhaps during imprudent times. The fifth step is to normalize income taxes, to prevent tax exploits that many people and businesses use to pay less taxes than people of similar conditions. The sixth step is the large one, the goal is to enact the "good intentions" bill. The goal of the bill is to annihilate federal policies that cause more harm than good to the economy. One example is the student aid program, as it creates more debtors than creditors, only to enforce the cartel on universities. I describe it as a cartel because, for one, it offers economically useless degrees for an obscene price, controls the "college board," a board which control, essentially, who can be legitimate universities and who cannot. Obviously, it is more reluctant to approve cheap online universities that offer the same quality for a lower price. Also, despite price gouging, most new revenues, according to the economist, are going to administrators and new fancy athletic facilities, not the education, and it is an absolute disgrace that the federal government subsidizes that through guaranteed loans. The goal of the bill is to eliminate 450 Billion USD16 in federal spending. The next policy is going to be an amendment, called the "deficit" amendment. The amendment will state that politicians in Washington may only run a deficit larger than 1% of GDP for 10 years, 24 years if in times of warfare. (Ten years because that's the maximum time a president may be in office, and that is typically how long it takes for an economy to recover from a recession. If, for example, peace is declared 14 years into war, then politicians will be required to balance the budget by the end of the current year.) This will, of course, also put a 24 year cap on warfare - which I'm sure most citizens would agree to. If it is not reduced, then all Congressional politicians will be subject to a recall election. The amendment does not affect state governments. It is the responsibility of the people, of course, that this amendment is enforced. It likely won't pass Congress, but there is also state legislatures and the people at large - a national convention. Overall, to summarize, the debt is to be eliminated by reverted to our previously smithsonian - conservative ways - guaranteed freedom, limited government, and a responsibility of the government to have a close to balanced budget. I will add that the budget used to be balanced because of the gold standard, now that the gold standard is gone and it imprudent to bring it back, the aforementioned amendment is recommendable. I am sorry for not being specific, but first comes philosophy, then comes policy, and then finally results.