In martime law, flotsam is floating wreckage/debris/cargo from a ship, and jetsam is parts of a ship, its equipment or cargo that has been deliberately jettisoned to lighten the load, and which usually sinks or washes ashore.
I chose Flotsam_Jetsome as my screenname because although I sometimes feel tossed about by life's waves (Flotsam), the Jetsome half of that moniker reminds me that I am not entirely without means (I can afford to "jet, some" Even if it's Economy Class) to resist the creeping tyranny I see happening in America, and so should buck up and fight back as best I can within the means at my disposal.
Hope that helps.
Commentary on the Obama economy ...
I have never heard one word use with out the other, interesting.