Yes, refuse to pay the country's loans, a good strategy. If you want to cause an economic collapse that is. You don't seem to realize how dangerous it is to be playing with that card.
While I agree (and both sides agree on this) that spending cuts need to be enacted, the problem is how much and where to cut, and neither side wants to come forward with specific cuts because you have to take shots at Social Security, Medicare and/or Defense to really address the problem.
Revenue is needed too however, be cool if a true tax reform could be done, removing the majority of the loopholes and lowering the statutory rate (though personally I think overall this should be revenue positive, not neutral like the GOP wants).