Creating more jobs, reviving manufacturing and oil/coal production and cutting cost are necessary but insufficient for long term sustainable growth.
The real strength of US is in strategic investment banking. This area is seriously being threatened by China. The future economic powerhouse battle will be won in this arena. US investment banking was stunted by financial crisis and China has since taken advantage. Investment banking involves betting in areas with long term potential growth, without much short term rewards. This has been the engine of the fast pace US growth. US needs to nurture more and identify winning silver bullets of the future. They are not difficult to figure out.
China, Singapore, South Korea, Japan. Israel and Taiwan still cannot compete with US in innovation. They are able to build off the incubators is US but struggle to innovate as fast as US. This has alot to do with culture, institutions and entrepreneurial spirit.
US needs to make massive strategy infrastructure and transportation investments. Rebuilding existing roads, railways, bridges without a bold and visionary strategic ideas/concepts are going to be longer term failures. These are also not difficult to figure out.