“We don’t like taxes.” (“It’s mine, my money, keep your hands off it.”). This seems to be a core principle of Republicans at this time. However they do like spending, e.g. a bottomless pocketbook for all things militaristic. The Republicans and Democrats spend with little regard to how it all gets paid for. The suggested solutions are reaffirming of their respective “ideologies.” Democrats would raise taxes and pronounce hollow words about reduced spending. Republicans think less taxes on everyone will equate to more individual wealth and consumer spending, thus actuating increased production (growth) to satisfy consumer demand. This plan necessitates less spending to compensate for lost revenue, and the hollow words of the Democrats on this subject are given form and substance by some Republicans with the intent of cutting social programs significantly. Another group of Republicans, joined vigorously by Democrats, maintains ending loopholes in the tax system will compensate for reduced revenue. And it would, mostly. The idea has been floating around for years, and for obvious reasons, there are no specifics about which tax loopholes must go and which may stay.
Debt and deficit are procrastinations, albeit with wringing of hands. As long as there is a tomorrow, there lies the solution.