It’s the opposite of a mcguffin, which usually an object, not an idea, which drives the plot of a story without the audience particularly caring what it is. Mcguffins are there for formal purposes only. The debt ceiling, on the other hand, isn’t useful to Obama unless the people can be tricked into thinking it’s important. The most appropriate storytelling term is perhaps “red herring,” although that doesn’t fit exactly.
May I disagree? It can indeed be a thing (Captain Kidd's treasure), but it can also be an idea, one of the most famous being exemplified by Waiting for Godot. Eventually Godot will arrive, and then we will all go somewhere or do something.