I think there needs to be more effective spending.
I don't understand the "it has failed, so we need to eliminate it" argument. 1st of all, it seems like a false dilemma. Whynot work to make the spending more effective?
Also, the "___has failed, so we need to eliminate it" argument (examples that ron paul fans put into the blank include "War on Drugs", and "Taxation") seems to lead to troublesome conclusions if followed consistently. For example, if someone argued that child rape laws have failed (because of the children being raped), I doubt any Ron Paul fans would suggest that we should eliminate child rape laws.
Despite it's faults, taxation works better overall than if we didn't have taxation. But it does have faults, and we should work to correct those.