By Going In Debt You Are Selling Yourself To Others
Donald Drumpf comes to mind.
governments are drowning in the continuously rising debt levels.
This statement is mostly ignorant.
Governments that their debts is mostly denominated in their own currency and if their currency is not backed by some asset of limited amount, can go as far as they want into debt, can always pay it back in full, and in fact do not need it, since they do not need to loan amounts of what they can create at the stroke of a keyboard.
In addition to the above, if inflation occurs, the debt itself is devalued, which means, shrinks in real terms.
In short, we are under MMT rules, not under a gold or silver or bitcoin standard.
So you think the world bank gives out loans in local currencies when they lend to 3rd world counties? The world is bigger than only America and many countries are suffering because of their growing debt in USD.
Then what you wrote applies to such countries, but you wrote it in a way that is meant to frighten people out of debt, and to make it seem as if governments are in trouble whenever they are in debt.
The distinctions and reservations deserved to be mentioned.
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