Speaking only for the US National Debt. I would cut 10% across the board of all Federal jobs, elected, appointed and all civil service. Wages, benefits, budgets - real budgets.
Require clear and complete budgeting and no more kicking the can down the road. It has been over 800 days since the last budget worked its way through Congress. Congress has ignored its Constitutional responsibility and should go unpaid until they do their job and pass a budget.
A flat tax or the Fair Tax would be preferable to the crazy Gordian's Knot of a tax code we have now. Eliminate all taxes collected by a third party - corporate taxes, estate taxes, capital gains taxes. Taxes distort the direction and velocity of money.
We are in a recession that is so intractable as to be a Depression. Raising taxes is a terrible idea but so is allowing huge amounts of authority over monetary policy to be set by a private banking cartel that is unresponsive to anything but its directors goals.
Audit the Federal Reserve. De-fund useless Cabinet Departments. Devolve authority and responsibility for Education, Energy, Housing, Labor and Commerce to the states where those endeavors are more efficiently managed.