The problem now is that this has ballooned out of control to where it can't be fixed. Do the math. We CANNOT pay this back now, there is not enough GDP in the US to pay off the debt and fulfill our obligations to SS and Medicare, etc.
We not only need the present, but in the next 20 years we need more than 50 trillion on top of it.
If you look at the cost of general government, without SS, medicare, medicaid, etc. we do not collect enough tax revenue to pay the bill.
If they tax every tax payer above $250,000 at 100% it is not enough.
Anarchy awaits as people see their government check disappear.
Ben