Ron Paul on the "Default"

Paul observes: "The government is insolvent, as there is no way that this massive sum of liabilities can ever be paid off." When individuals or businesses go into debt they call it going into the hole, when socialists in DC do it they call the bottom of that hole a ceiling. How would it change the conversation if they were debating deepening the hole instead of "raising the ceiling"?
Default Now, or Suffer a More Expensive Crisis Later: Ron Paul - Bloomberg: www.bloomberg.com/news/2011-07-22/default-now-or-s....html
http://chumly.com/n/ab2ebf