Yes, we can undo the damage that has been done and it is very easy.
Legalize Cannabis Sativa again and let the free market correct itself.
Cannabis was legal tender in America from 1630 until the early 1800s, almost 200 years. Americans were given tax credits based on how much they grew, then the Cannabis was pooled into the collective so American workers could turn it into various American products. Today, Americans have everything made in other countries, including hemp products. This will change when Cannabis is legal to grow and use again.
The Marihuana Tax Act of 1937 was repealed as unconstitutional in 1969, so the US Federal government passed the Controlled Substances Act of 1970 which is a blatant lie. The CSA declares that Marihuana is a dangerous narcotic (that has never caused an overdose) and it can't be used as medicine (even though it treats AIDS symptoms, cancer, epilepsy, glaucoma, arthritis, etc. etc.). Americans pay artificially inflated medical prices for toxic pills with terrible side effects simply because safe natural Cannabis is unavailable to the general public. This will change when Cannabis is legal to grow and use again.
In 1916, the USDA reported in Bulletin #404 that one acre of hemp can produce at least 4 times more paper than an acre of mature trees. For the past 100 years, the world has needlessly cut down forests for paper and lumber while demonizing a plant ("...and God saw that it was good") that can make more paper and construction materials of better quality for less money.
Nixon expanded the war on drugs in 1972 when his own special committee advised the country that smoking Marihuana is not that big of a deal and it shouldn't be against the law. The drug war is now a trillion-dollar failure and the Land of the Free has more prisoners than any other country on Earth. All because of the lies of Richard Nixon who is now long dead.
Industrial hemp has always been the real target of "Marihuana" prohibition because industrial hemp can make everything that is sold at Wal-Mart today but with the power of production entirely in the hands of the masses. Wealthy industrialists cannot control the supply of Cannabis because anyone can grow it themselves, even homeless veterans. If Cannabis is legalized again, industrial hemp will replace trees for paper and construction, it will replace Monsanto's GMO corn for ethanol production, it will replace DuPont's petrochemicals for plastics, it will replace foreign imports of just about everything, and it is impossible for the 1% to control the supply or profits.
So if you want to reduce government spending, balance the budget, lower unemployment, reverse the Greenhouse Effect, and end the American police state, legalize "Marihuana" again.
https://archive.org/details/Hemp_for_victory_1942_FIXED
State Industrial Hemp Statutes
http://www.fas.org/sgp/crs/misc/RL32725.pdf
Hemp: A New Crop with New Uses for North America
Feasibility of Industrial Hemp Production in the United States Pacific Northwest, SB681
USDA ERS - Industrial Hemp in the United States: Status and Market Potential
http://www.uky.edu/Ag/CCD/introsheets/hemp.pdf
Colorado farmer harvests first U.S. commercial hemp crop in 56 years - The Denver Post
Cannabis and Cannabinoids (PDQ®) - National Cancer Institute