For a real-life example of how scaling back government has led to positive and practical economic benefits, Americans should look north. In Canada the conventional wisdom for much of the second half of the 20th century favored increasing the size of government. This led to significant growth in government as a share of the economy.
We've learned an incredible amount about how governments scheme, conspire, collude, connive and lie, both to each other and to the people who elected them. Which is why my nomination for the next Nobel Peace Prize is WikiLeaks and its three great whistleblowers -- Julian Assange, Bradley Manning and Edward Snowden.
On November 6, 2012, the citizens of the United States decided to maintain, essentially, the status quo: they re-elected Barack Obama as President, left the United States House of Representatives solidly in Republican hands, and left the United States Senate under the control of the Democratic Party. But as with all U.S. elections, there are implications for Canada, which, for better or worse, is usually pulled by the tides of American regulation and economic prosperity - or the lack thereof.
After decades of mistaken policy with the Middle East, the U.S. should do what's necessary to prevent Iran from becoming a nuclear power, and get rid of Assad and his sycophancy to Tehran. America has a very poor track record with the Middle East, and will simply, eventually, have to do better than this.