1. Drastically raise taxes (as you discussed).
2. Simply print money - inflate their way out of debt.
3. Seize IRA’s and 401k’s. Replace them with garbage federal bonds paying maybe 1%.
4. Default on the federal debt.
Best bet is inflation. I don’t see three or four happening at all especially when printing money will pay the debt off, albeit with less valuable currency. #3 is a fantasy. Hold what amount to savings bonds in place of Exxon, JNJ or Coca Cola? No thanks. Hold common stock.