The "national debt" is just non governmental wealth. It's an accounting artifact. The fact that interest is paid on most of it is entirely through choice. Edit

The "national debt" is just non governmental wealth. It's an accounting artifact. The fact that interest is paid on most of it is entirely through choice. Edit: The point is the policy space available to you has nothing to do with national debt and everything to do with politics, the same in the past as now.