Hell, restore the exact tax code from the end of the Reagan presidency and call it the “Reagan was right bill”. It would still be a massive step towards a balanced budget
Try one of the many online 'balance the budget" games like https://us.abalancingact.com/2022-federal-budget .
Total federal outlays in 1989 were $1,143,744M in today's dollars. That's less than is currently spent on Medicare and Medicaid, ignoring everything else in the budget.
So you'll have to make some pretty substantial alterations.
if only "essential" stuff like buying a home or a business got a loan, things would be much cheaper because overall there would be less interest to pay.