A way to reduce the debt?

Today, one of my friends informed me of a potential solution to the debt ceiling: a trillion dollar coin.  When I heard this, I had no clue what to think because I could not even fathom the idea of $1 trillion wrapped up into a small piece of metal.  This New York times article explains how it would work.

Although this article explains that making this coin and directly depositing it in the Federal Reserve would be "an accounting trick", it could also cause mass inflation and make the value of the dollar drop drastically.  Many people think that the debt issue could be fixed by simply creating more money.  This may limit the debt, but might cause inflation, making everything cost up to 4 times its original cost.  Our economy is in a huge hole, but it can only be fixed if the government is willing to cut spending.  Although they want to fund their programs, the government cannot keep raising the debt ceiling.  Soon the interest we pay on the debt may reach the high billions.

The fact that the government couldn't even make progress on the fiscal cliff agreement until the due date is quite concerning.  The government knew that the fiscal cliff and debt ceiling were coming years in advance, but didn't make an agreement until the bottom of the ninth.  The government needs to take responsibility and cut spending themselves, instead of relying on the citizens to bail them out.  A $1 trillion coin is not the answer to fix a much bigger issue.  Even if this coin was successful in limiting the debt, it does not change the issue of spending more than the country takes in.  If the debt continues to outpace the GDP, there will be no solution and we actually my "fall off the cliff".

How do you think the government should lower the national debt?  And do you think that a $1 trillion coin would be feasible?  Feel free to comment below.