This is not something that the Government would embrace quickly, as the population, by and large, is not complaining about the current situation whereby their consumption is subsidised by cheap loans from the rest of the world. Some of the appropriate policies may be worthwhile on other grounds, such as reducing the budget deficit, so I do not wish to argue against them.
All I want to point out is that the usual policies which could reduce the current account deficit are not very appealing politically. In a world of floating exchange rates, all the policies available to the US Government involve reducing domestic demand, increasing national savings and putting downward pressure on domestic prices and wages.