The best way to conceptualize it may be via MMT and not attempt to compare it to personal debt because it never gets repaid, the debtor owns a printing press, a

The best way to conceptualize it may be via MMT and not attempt to compare it to personal debt because it never gets repaid, the debtor owns a printing press, and so on. MMT is unorthodox as noted in this link but gaining traction. As you note the high debt burden isn't translating into higher interest rates on US debt https://en.wikipedia.org/wiki/Modern_Monetary_Theory https://en.wikipedia.org/wiki/Modern_Monetary_Theory (copyedited)