In theory, maybe. The reality is very different. The debt keeps increasing because: 1) We don't have the political will to increase revenues (read: taxes) 2)

In theory, maybe. The reality is very different. The debt keeps increasing because: 1) We don't have the political will to increase revenues (read: taxes) 2) We don't have the political will to cut spending. That is, politicians keep buying votes with new programs, and we keep smiling as we sell our votes to the highest bidder. In short, you're over-simplifying the base financial system (i.e., The Fed), the broader financial system (i.e., banks and the fractional banking system), as well as the sociopolitical system. There's more to this than debt in some amount and GDP in some amount, and saying the ratio of those two is all we need to understand and not worry. btw, for bonus points, read the first three or four chapters from Lyn Alden's "Broken Money". https://www.lynalden.com/broken-money/ https://www.lynalden.com/broken-money/