#The federal government is now spending considerably more than it collects in taxes. This fiscal gap will widen as the “baby boomers” retire, driving up the cost of the Social Security and Medicare benefits. Proposed responses: fix Social Security and slash Government spending

#Our tax system is overly complicated, and many people are not paying their fair share. It is hard to envision how income tax rates could be raised without economic effects that would largely offset the anticipated "revenue" gains. As for payroll and excise taxes, they are already at about the maximum tolerable level.  Proposed response: simplify taxes

 #The Government programs that our country can afford will depend on the size of its economy.  Misguided government regulations are putting U.S.-based businesses at a disadvantage vis-à-vis their international competitors, with adverse implications for the economic growth that can be expected in the future. Proposed response: rationalize regulations

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