Anyone over the age of 35 already knows the answer to this question; Ronald Reagan’s fiscal policies resulted in the  longest peacetime economic expansion in U.S. history. Peter Ferrara at Forbes elaborates nicely with facts and figures.
In a nutshell, here’s what we should be doing:
 

• Cut tax rates
• Reduce spending
• Stop printing money
• Deregulate

 
Read his article; short, concise, and right on the money*.
 

* Be patient with the link – may have to wait through a few second for the page to load.