The founding fathers found themselves in a very similar financial situation just after the Revolutionary War. The USA was deeply in debt and was considering a default. What they did was pass the Tariff Act of 1789 which brought in revenue and protected US industry. It is surprising the the founders would do such a thing as most were growers and farmers who are notoriously against tariffs and for free trade . But George Washington and the first congress put country ahead of their own needs and did the right thing. The rest is history: the War debt was paid off very quickly and their was no need for income taxes.
A 20% tariff balance the budget tomorrow. Phased in 5% a year until the deficit goes away. It has to be done.