The only way to roll back gov is win elections, take over the House and Senate in 2014 and take the WH in 2016. The biggest problem the GOP will face is GOP reps from purple states. Gingrich found this out in 1994. Many of the Contract with America promises floundered when GOP reps from purple states voted with the Dems to vote it down.
What we are discussing is peanuts. The US has a debt of 16 trillion which is about equal to the entire annual US GDP. Add unfunded liabilities (Soc Sec/Medicare), the two Bush Wars/nation building, bank bailout, FDIC (which GWB doubled from $ 100K to $ 250K), toxic assets and mortgages we brought from Wall Street banks as we bailed them out plus GM bailout, God knows what overseas banks and invisible dark pools that our banks are on the hook for that the Fed Reserve secretly volunteer to print money to cover. Experts think the US has debts with unfunded liabilities equal to 100 trillion to 200 trillion. To give you some perspective of scale, the entire economic domestic output of the world is about $ 60 trillion. The US debt is about 1.5 to 3 times that amount. There is no way Americans can pay it off and one day there will be a time of reckoning. In the mean time our gov (no matter who is in charge) will try to find drastic ways to survive as our debt saps our military strength and put out crisis that will erupt and threaten collapse.
Japan has been printing money and piling debt equal to 200 percent of her GDP and have survive 20+ years with no inflation nor collapse. The key to her success is 90 percent of Japanese T Bills are brought by her citizens. They are not at the mercy of foreign buyers of her gov debt. As a drastic measure, the US gov may force Americans to invest in US T Bills. Private pension funds (IRA, 401K) are prime targets as well as bank accounts. This is call financial repression. It was used by the US gov in the past to pay off the WW2 war bonds. This is how it worked in the past. Average Americans in the past had savings accounts in the bank. They paid a steady 1 to 2 percent. There were no CD, Money Market Accounts, stock investment accounts, etc etc like we have today. Some banks had it available, but required a large minimum to open. Only the rich had access to such products, the average working person did not have the knowledge or cash to open such accounts. T Bills were the only higher paying investment the average working American can buy. This was deliberate by the US gov to channel Americans to pay down the war bonds. it worked.
IMHO I think the US gov will use the Japanese approach and financial repression to keep our deficit spending going at low interest rates without triggering inflation. The trick is how will the US gov force Americans to convert from their current pension funds to T Bills? The gov has several schemes but are waiting for a crisis to offer it to the American public.
Your start, “the only way to win...”. Not when the elections are Venezuala style elections. The next one will be Azerbaijan style. The “way to win” is right here, right now. The House has the purse. Use it. Turn the g-d boat around right damn now. If the GOP doesn’t do this they are DONE. The next stop on this train is a damn ugly place (IMHO).
The plan you describe is obviously the hope of Bernanke, et al. That way lies perdition. The Soros’s of the world have already leeched onto that tit and will impoverish generations of Americans.