There's a real difference between taking out a loan to buy consumables/non-revenue generating depreciating assets and corporate debt that is taken out on the ex

There's a real difference between taking out a loan to buy consumables/non-revenue generating depreciating assets and corporate debt that is taken out on the expectation that there will be a higher return on them. In a sense rising corporate debt is a vote of confidence in the growth of the economy as lenders are expecting to be paid back with interest. Government debt is somewhere in between IMO, since it has stimulative effects and the government captures some of that through taxes.