Sure. The U.S. could run a surplus like it did under Clinton. Surplus & time -> debt paid off.
But the only way we know to get back to those days involves raising taxes on the rich. The people ranting and raving about the debt would never agree to raising taxes, so the deficit hawks will continue blowing up the deficit until things fall apart completely.
Sure, but it's not desirable. Among other reasons, federal debt is considered the safest kind of bond an investor can buy. It's nearly the same as parking your money in an FDIC insured savings account, except there's no limit to how much of it you can own. In recent memory corporations, banks, and some investors have made requests that the federal government issue more bonds because the demand is so high.
