I guess, politics being what it is, and all…
One of the things that I would do is advise the President to blame all of the lack of ability to fully address and handle the problem on the other Party in Congress. That would be first.
Next would be to propose a massive tax increase to fund all sorts of crash programs intended to make sure this sort of thing never happens in the future.
Certainly we would need a Department of Space Junk to oversee all of the efforts being made in this direction, and to funnel the money to politically righteous (or lefteous) organizations and to MAKE JOBS, which of course is the primary endeavor of every political administration. (Well, primary after its own re-election, of course.)
While that Secretary of Space Junk is feuding with the Secretaries of Defense and Homeland Security over jurisdiction, and each of them is withholding vital resources and information from the other, we’d advise the President to appoint a Space Junk Czar to actually get something done (which translates into “stopping anyone else from getting anything done”).
The asteroid? Pfft… we were never in danger from that. But for God’s sake don’t let the voters get wind of that fact.