The American Debt Ceiling: The Difference Between Debt & Deficit

For those of you who may consider the country's fight to raise or not raise the debt ceiling to be a confusing, overdrawn, untrustworthy pain in the ass I would like to quickly put into perspective the way that I understand what is at hand regarding why our country will not go into default.

For starters the country has both debt and a deficit. Two separate things. Many times the both are placed under the umbrella of just "debt", Debt (we owe) is something that requires immediate attention like social security and the interest on our debt. The equivalent of  our credit cards, utilities, cable bill etc. Obligations.

The Deficit is what we plan to spend. This would be future programs paid for by the FED. Equivalent to our need to repair the fence, repair the roof, take the kids to Disney World,  a promise to the wife to put in a new pool for the summer. Future spending. Now imagine if you (personally) have been living paycheck to paycheck and you just lost your job. Let's say you went to your parents and said I need $10,000 or your family won't make it, withholding the fact that you only need $5,500 to cover your debts (obligations/necessities)  the rest of the $4,500 would go toward your deficit, (future frivolous pending). You told them if you don't get $10,000  your family will be broke and will be out on its luck. This is what many in Washington are doing when they threaten default will result by not raising the debt ceiling. 

$5,500 Debt (Utilities, Mortgage)

$4,500 Deficit (Fence Repair, Disney, Pool)

Total Loan $10,000

The point is, it would be irresponsible to misconstrue what is needed to meet your obligations by asking for a loan that lumps together frivolous expenses under the same name as obligations.You would have to show some integrity, and be accountable to your realistic situation. As a country we can cover our debt. You wouldn't get kicked out of your house for not repairing your fence or not getting your wife the pool in the backyard (depends on who your wife is maybe) but you would be in trouble if you didn't pay your mortgage, or light bill.You would be force to prioritize spending based on obligation and need. If you were broke and won $2,2000 would you put in a new pool or pay your mortgage? Priorities I assume would be taken care of first. Dave Ramsey stuff, accountability. But to delve deeper you have to understand that this is a fight over more than money. This is a disagreement on the direction of the country, the role of government, and which party's ideologies are right for the country. It's become personal for each side. What Americans want from the government is a smidge of honesty and communication on the true state of economy. We can swallow that pill, but we won't eat peas the President won't even entertain on his own plate. Exiting soap box...