It sounds like you are talking about two different things. The debt and the deficit should be looked at independently. I think the biggest problem is that we cannot run a deficit indefinitely. We must “pay as we go”.
Whether or not we are willing to pay the taxes for the services we believe we need is a whole other issue. Once we decide as a nation what services we need and then find the funding to make that possible we will then need to start attacking the debt and bring it down to a manageable level.
At 14 trillion dollars assuming 3% interest we are paying 420 billion a year on this debt. This is $1,400 for every man woman and child in the USA each year. Assuming 300 million population.
This is just the interest on the debt. Now add the taxes to sustain our current level of services to balance the budget and you start to get the idea of the problem. We know that every man women and child don't pay these fees. So it is much larger.
The big different with the USA and you is when you don't pay they come and take your house. What exactly does China come and take when we don't pay??
I know I don't understand this as well as I should, and probably should not be writing all this.... but that rarely stops me.