Republicans are searching for big, bold ideas that will inspire voters to embrace a conservative agenda. To unite its disparate segments, the GOP needs to uphold our nation’s founding principles—a key requirement for Tea Party adherents—while fostering the aspirations of those who believe the United States should play a strong leadership role in the world. A prime opportunity presents itself in the most compelling problem America faces: the need to restore confidence in its economic future.
Uncertainty over interest rates and the Federal Reserve’s next policy move is discouraging private sector decision-making and hampering growth; without economic growth, we cannot tackle other pressing concerns. On the global front, the disconnect between the money-pumping actions of central banks and the lackluster performance of real economic variables, such as wages, is fueling the political tensions of income inequality.