I went into debt ~20 years ago to buy a house. I had to pay interest on the loan. I now own the house and the value has risen to where it will pay back the interest I paid many times over. I could have stayed in a rental apartment I guess.
That would be fine if we were actually paying anything off but we aren’t, we are just borrowing and passing the debt on to future generations. All debt to GDP means is we can afford to keep paying the interest.
Rationalize it any way want but the bottom line is all this debt to GDP BS means is we are sentencing future generations to use their tax dollars to pay interest for the rest of their lives on money we borrowed and spent. Unless they do something we weren’t willing to do like actually pay off
our debts.
If we borrow to build a bridge and don’t pay it off, it isn’t an appreciating asset for our children, it is just something they will eventually have to tear down and replace. Not only will they have to borrow to build a new one but they will be stuck still paying interest on the one they just tore down.