1. Estimate total Federal Expeditures for next 18 months.
2. Raise Debt Ceiling by that amount.
3. Halt all Federal Revenue collection for next 18 months to put cash directly into economy.
4. Initiate 2% reduction in total Federal Spending per quarter (this will take 6 teams tackling different areas with easy ones getting done first. By the end you should have at least 10% less spending. And if the 1st team started on a new area as soon as they got their first one done, you could keep reducing overall spending qtr by qtr until Fed spending was aligned with some reasonable percent of GDP.)
5. Immediately pass the Fairtax, and begin preparations to activate it after the 18 months.
I believe this to be the most practical way to solve reviving the economy, reduce Federal spending, and improve the Federal revenue system. The bump for the economy, would position us for enough growth to make the Fairtax revenue to be higher than the oppressive income tax revenue of today.
That’s just my opinion, anyway 🙂