Government debt is never the problem — private debt is  ...Middle East

The government debt ceiling and the important role of government borrowing and debt are misunderstood because many politicians and commentators are blind to American history. Incredibly, Speaker Kevin McCarthy (R-Calif.) and House Republicans seem willing to drive the U.S., the guardian of freedom through a debt-financed Civil War, two debt-financed World Wars and 70 years of a debt-supported armed peace, into a potentially disastrous default over the issue of government debt. They seem not to have noticed that excessive private debt, never government debt, has been the cause of all the financial crises and depressions that have hurt ordinary Americans repeatedly through that long history

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