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Mired in a long, crippling economic slump and hamstrung by bitter partisan debate over the growing debt and the role of government, America faces substantial challenges, exacerbated by a dearth of vision and common sense among its leaders. John B. Taylor brings his steady voice of reason to the discussion with a natural solution: start with the country's founding principles of economic and political freedom and reconstruct its economic foundation from these proven principles. Channelling his high-level experience as both a policymaker and a researcher, Taylor then zeroes in on current policy issues - the budget, monetary policy, government regulation, tax reform - and lays out in simple terms bold strategies designed to place the country on sound footing in each of these areas.