"For a small piece of paper...it carries a lot of weight." — "For The Love of Money" as performed by The O'Jays
Most of us budget our personal discretionary spending, spreading out major purchases over several months and paychecks. For a really large expenditure, we may even utilize the time-honored process of saving for several months or, heaven forbid, even a year.
Our Federal Government? Not so much. Theirs is a "spend what we want now, and borrow more if we run out of money" approach. The Treasury Department recently announced that if Congress doesn't raise the federal borrowing limit before their August recess, the government will likely not be able to pay its bills come September. This raise-the-debt-ceiling game has become all too familiar in recent years.