WITH a single bold act, President Obama could correct the country’s course, help assure his re-election, and preserve our children’s future. He needs to redefine America’s mindset about national security away from the old defense mentality that American power derives predominantly from our military might, rather than from the strength, agility and competitiveness of our economy. He should make it clear that today American jobs and wealth matter more than military prowess. As Adm. Mike Mullen, then chairman of the Joint Chiefs of Staff, declared last year, “The most significant threat to our national security is our debt.” There are...