I share the same hunch. I believe that in the very long run (many decades) the growing debt cripples the the government, hurting its productivity along with tr

I share the same hunch. I believe that in the very long run (many decades) the growing debt cripples the the government, hurting its productivity along with trust on its proper functioning. (Japan, Italy are around here) Growing debt is not a good sign even for governments, unless the money goes fully into investments for the future. Many times though it goes into liabilities. Eventually, currency gets hurt and global capital moves on, leading to its failure. There is always competition, other govs might be doing things a little better.