“The key to eliminating the debt begins with balancing the budget.”
Eliminating the DEFICIT has nothing to do with eliminating the DEBT.
You have to understand that fundamental point before taking step two.
Actually, it does. Part of the budgetary expenses each year goes towards retiring bonds that become due that year. If those bonds are indeed retired and not renewed, then the overall debt goes down. Do this thirty years in a row, and there is no more debt.