Write an essay analyzing ? Different theoretical views on national debt,? Long-run costs of high national debt

Question
Write an essay analyzing ? Different theoretical views on national debt,? Long-run costs of high national debt, ? Costs of eliminating the budget deficit solely through (1) personal tax increases, and/or (2) through spending cut by decreasing in transfer payments (i.e., Social Security, Medicare and Medicaid) and in discretionary spending (such as defense and education budgets).