The US owes $2,190 for every second it has existed.
We need congress to be innovating, instead of passing nothing and blatantly refusing to compromise on key issues. If one party forces a bill through, it will eventually be repealed.(Obamacare)
Working together:
Raising taxes could help, if we made sure it would not affect the economy or job creation too bad. Cuting spending could help, if the spending isn't vital. Closing loopholes would help (Agreed, so do it). Improving the economy by lowering taxes could help by broadening the base, if we make sure we can afford the immediate effect.
There are two parties in Washington for putting values ideas together, not for arguing over core values and . having laws that both parties created together and agree on will fix the problem long term.