Unless you have a legal way to increase your bank account on demand there is no, zero, nada, equivalency between federal finance and your household budget. This is primarily due to the fact that the federal government must spend its currency into existence prior to borrowing or collecting taxes and every dollar it creates becomes someone's net monetary asset in the private sector.

If the federal government "balances" its budget it effectively claws back all payments it makes to the private sector for the resources and labor it uses. This is extremely deflationary, but also depletes those resources and depresses labor. The only way the private sector has of obtaining "net" monetary assets to retire its private bank debt and store value from its commerce is the deficit spending of Congress.

The debt is nothing more than an aggregate of all money created by Congress that hasn't yet been retrieved/canceled via taxation. It is our net savings and our money supply once private bank debt is subtracted. It is "not" an encumbrance on the private sector against future productivity as politicians and media liars would have you believe.