I'd say no. If the people in power (and that's not the politicians, who merely dance to their tune) wanted to fix the economy, the world would already look like a very different place. The people in power want the debt to keep growing, probably because they are getting obscenely rich off it.
Well, stop playing the world war lord is a good starting point.
Not while we've got spendthrifty Democrats in power and spineless Republicans in Congress.
As long as Keynsian economics is idolized by politicians, the answer is no. We CAN get spending under control. But, that would require a strong, charasmatic and intelligent leader. But who wants that? Let's re-elect Obama for a 3rd time because we don't want no GOP ;D
(GOP's idea of printing a trillion dollar debt instrument (dollar) would have easily put America in inflation. Printing money is stupid.)
The trouble is that the majority of the spending in either on social programs (which the liberals won't cut) and the military (which the conservatives won't cut). And if you cut social programs one half of the population belly aches and when you cut the military the other half belly aches. The trouble is that everyone wants the budget cut as long as the cutting is done on something THEY don't care for.
Can we? Yes, will we? Probably not
It was the fate of the Roman Empire...
not under oblah-ma
Good luck with that....lol