I believe we should blow up the moon. It would scare the crap out of our enemies; nobody will ever mess with us again. So we would save a lot of money on defense. Moreover, the resultant debris would form a ring around the Earth. I think we can all agree that a ring is much more aesthetically pleasing than a moon. Another potential benefit of this operation would be to get the attention of any extraterrestrial life in that may be present in the solar system.
I don't know if we have the technology to do this yet. If we don't, the project would create a lot of jobs for scientists and engineers. Just like the space program, the new technology would probably also create lots of new products, which would also spur the economy.
The choice is clear. Let's blow up the moon!