Simply stated, cut spending or reduce the growth of Federal spending.
From this video by the Center For Freedom and Prosperity:
Politicians and interest groups claim higher taxes are necessary because it would be impossible to cut spending by enough to get rid of red ink. This Center for Freedom and Prosperity video shows that these assertions are nonsense. The budget can be balanced very quickly by simply limiting the annual growth of federal spending.
[...] more at this link. This is what happens when Government gets too big. It’s easy to shrink Government so our kids will have more of a future to look forward [...]