I would start by ending the manifest destiny, good vs. evil, god-is-on-our-side rhetoric and start seeing the world as what it really is. I think a healthy dose of geopolitical realism is critical to a more successful approach.
That said, specifically, I'd invest in actual measures that would improve our responsiveness to terror attacks. Local agencies lack the necessary supplies and equipment (chem/bio suits, medicines, etc.) to handle a serious terror event. I'd take 5 billion of the unspent Iraq money (most of the allocated money in that 60-80 billion dollar reconstruction chunk is unspent) and start buying that stuff tomorrow.
I'd make a priority out of mideast peace. Going into that in any significant specificity is beyond the scope of this post, but any resolution would have to result in mutual satisfaction, two states, and an end to terror attacks.
I'm not sure what else, but those are the first three things that come to mind.
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