"have the fed start selling assets from its bloated balance sheet"
Too whom??? They're buying $85 billion/month of bonds because no one else will buy them at these interest rates, and they can't allow rates to rise. Plus they would have to mark the "assets" to market not model.
The debt can't be paid down, that would require a budget surplus. We can't even come close to balancing it.
Thumbs up. Tho the debt CAN be paid down, the same way it always has been--raise taxes on the top 10%.
Go with REagan's '86 realisation that income is income and should all be taxed at the same rate, instead of what i personally think of as the obesity induced CHF of preferential treatment for not earning anything. Then adjust rates down to "balanced" while adding a trillion a year "surplus" to be applied to reducing the "debt" to the systemically necessary $6 trillion or so--Y2K level--by a surcharge