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I suggest high level protectionism as well but I'd maintain military spending a while before declining for both stimulative effect and big stick factor.
Fire up the F-22's, a couple of carrier groups, and start the research for a new generation right along with an energy Manhattan project. With what money you say? Our new currency of course, the actual money is meaningless we have the resources the economy is just a means to move it.
Why? Because I'd kick China, Dubai, the Saudis, and the whole gang out while telling China to sit and spin and rip them all off of their property investments.
Do we deserve it? Sure, but I'll never be afraid to put us first, never. They better find new suckers to buy their crap or its back to the 19th century for the majority of their people.
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