Overall it's not bad that national debt is there. Because usually a nation gets something for it. And national debt is paid back, all the time. Nations don't default on their debt that often, if they do it's really, really bad.

So overall, debt isn't paid back. The particular debt is paid back very much indeed. And whatever was paid for with that debt is ideally here to stay. National debt isn't anywhere close to private debt or a mortgage. Looking at it that way is just wrong.

By no account do I understand monetary theory or how national debt works in detail. I know enough to understand that it is a very complex topic, one that isn't easily understood. So I am cautious when it comes to easy explanations.