First. Put the Glass-Steagall Act back in place.
The repeal of provisions of the Glass–Steagall Act of 1933 by the Gramm–Leach–Bliley Act effectively removed the separation that previously existed between investment banking which issued securities and commercial banks which accepted deposits. The deregulation also removed conflict of interest prohibitions between investment bankers serving as officers of commercial banks. Experts believe that this repeal directly contributed to the severity of the Financial crisis of 2007–2011 by allowing Wall Street investment banking firms to gamble with their depositors' money that was held in commercial banks owned or created by the investment firms
America may have won the war of Independence but were quickly invaded again by stealth via the Fed money system that has its roots in the UK banking system. As a result, the US is simply a 'corporation' of the UK and most Americans dont even realise it. Quite ingenious really.
What is the alternative though? Yes, the spending has gotten out of hand but if you're really going to attack the root of the system, there needs to be a viable alternative. Can you name a single successful economy that doesn't use fractional reserve banking?