How to save America now?

[blazeofglory]

It seems a political debate but this is something we cannot do away with this since it touches every aspect of life in the US. We do not know or cannot advise what Obama must do? Should he keep on printing money or take austere measures by raising taxes and reduce entitlements the way they did in Greece. America is in debt up to neck and economists are engaged in a series of debates over the issue: to spend or not to spend.

What ideas can you come up to save America now

[billl]

In America, there is a sort of debate about this--but it's a more complicated issue than Americans can generally handle. Basically, the government must posture itself so as to communicate stances necessary in a (potential...) currency war (http://en.wikipedia.org/wiki/Currency_war). However, blatant and straightforward pronouncements in this regard would be regarded as insulting in the international arena (as would the currency policies of other important nations). And domestic political competitors are eager to take advantage of this subtle climate of discussion.

The spending in the U.S. is a domestic issue, of course, but the "printing of money" also has international implications. It is impossible to make sense of all of this without considering the currency manipulation, GNP growth, and trade deficits among all nations. However, simplistic and panicked analysis will often focus on some (often domestic) sliver of the overall equation.

The answer will not SIMPLY be a U.S. policy. It will be a U.S. approach to the multi-faceted multinational system of currencies and trade, and how such an approach would enhance domestic economic development.

What will "save" the U.S.? Clearly, changes in consumption and expenditures will be crucial. However, I think the international community is also involved in the process of deciding how valuable the U.S. currency should be--and I think that an honest shift in that regard would have ramifications that might unsettle major players, but would also ensure future fairness and balance in worldwide growth (and consumption).

[papayahed]

Discussion of current politics is not allowed.