Here’s why government debt is irrelevant, other than as political leverage:

I just set up a country. It’s called Mikelandia.

As countries do, I created a currency called Mikebucks. Needing some walking around money, I also loaned myself a million Mikebucks.

Tired of being in such enormous debt, an hour later, I paid off my loan to myself with a million and three Mikebucks.

So….