Pay down the existing just like a 30 mortgage.
Strictly pay as you go beginning now. No bond issues, nothing.
If a deficit must be run, the first thing UNPAID are the salaries of ALL of the elected House and Senate. Yes, there may be a national emergency, a war, and my elected Representative and Senators would gladly go without for the time needed to see us through.
NO OTHER WIGGLE ROOM. Not balanced, no pay. Period.