My idea is to divide the budget into 3 parts, each with it's own tax support.
Social Security/Medicare would be funded as is. The money borrowed from these accounts and placed in the general funds. would be repaid at 6% interest.
A new tax placed on the wealthiest individuals (intangibles on assets in excess of 10 million.) This tax would only pay debt service, reduce the debt, and repay SS funds with interest . It is the borrowing and political spending of this money that has made our wealthy, wealthy. Tax credits could be given for certain types of spending: job creation and charity. Trusts and sovereign funds would be included.
Without the burden of debt service, the general federal budget, funded by income taxes, should be balanced.
Intangibles tax places money back into economy.