What is the libertarian plan for fixing the debt and deficit problem?

Welcome to Ask a Libertarian 2012 with Reason's Nick Gillespie and Matt
Welch. They are the authors of the book The Declaration of Independents:
How Libertarian Politics Can Fix What's Wrong With America, coming out in
paperback later this month. Pre-order:
http://www.amazon.com/The-Declaration-Independents-Libertarian-Politics/dp/16...

On June 12, 2012 Gillespie and Welch used short, rapid-fire videos to
answer dozens of reader questions submitted via email, Twitter, Facebook,
and Reason.com.

In this episode, they answer the question:
"What is the libertarian plan for fixing the debt and deficit problem? Not
generalities, but specific points"

Produced by Meredith Bragg, Jim Epstein, Josh Swain, and Tracy Oppenheimer
with help from Katie Hooks.

To watch answers from 2011's Ask a Libertarian series, go here: http://www.youtube.com/playlist?list=PL32326BFC1F59AEFE