I can run and debug my Android app on my phone just fine, most of the time. Then, seemingly randomly, when I try to run or debug my app from Eclipse, the Console in Eclipse
I have had the same problem and restarting ADB wouldn't work for me. Sometimes rebooting my phone worked but not always, I was unable to program for about a week because of this glitch and I think I finally found a workaround! :-D
First of all, kill every program running on your phone. Having some kind of taskmanager makes this a quick task, otherwise you'll have to manually kill them all one at a time.
If that doesn't fix it, you will need to go to your phone settings, then go to "Applications", then go to "Running services", and kill every service in there. I'm using a Droid Incredible and I have yet to have this not work for me. :-)
So, the short answer is, kill all apps, and all services.
Also, keep in mind, you will need to close, and re-open eclipse to see if this fix has worked for you. I hope this works for you, I know it did for me! :-D