Lower the deficit by lowering the debt by repatriating some of what China is holding.
China has done little to no policing of its black market of bootlegged software - much of it from US companies. Microsoft Windows, myriad video games, bootlegged copies of CDs, etc., are rampant and easily available.
Let's persuade China to return a big chunk of our debt that they're holding in return for the value of the pirated Microsoft, Electronic Arts and other companies' software, since we know the average Chinese purchasers will never pay our companies for the lost value. Give to these companies in return percentage tax breaks and free PR for indirect good works by virtue of repatriated debt.