If the richest country in history can have Debt ceiling; then shouldn’t the rest of us? We all know the infamous Debt ceiling fight in the US was very contentious; and everyone came away from the battle bloodied.

The Debt ceiling, as it pertains to US economy, is an imposed borrowing limit, based on the ratio between revenue and debt. America had revenues of $14.5 trillion in 2012, verses more than $14.4 trillion national debt.

That is a one to one ratio – any of us with a mortgage, student loans and kids would love these results. Unfortunately, most people’s debt vs. revenue is far more lopsided.

The black household debt in America is terrible, to say the least. If a parent has to choose between paying a child’s tuition and a credit card, isn’t that a formula self destruction.

Most of us for differing reasons find it difficult to come close to a one to one ratio. But balancing the equations, like we learned in middle schools does help.

House hold wealth = revenue – debt

Paying down debt versus accumulating it is obviously logical but difficult in practice. The journey of a thousand miles begins with the first step.