asking about state-level debt gets into philosophical (and I would argue even religious) territory very quickly, but to answer your questions: 'why...it is oka

asking about state-level debt gets into philosophical (and I would argue even religious) territory very quickly, but to answer your questions: 'why...it is okay for the federal government...' federal govt in US is following general patterns at business and individual scale, because democratic processes lead to a reflection of decisions at smaller elements of society at bigger ones. '...ever reversed course historically?' no reversals, but plenty of upheavals, such as war, conquering, etc.