> You can't continue to fund the country on high levels of debt or continue to grow the economy and eventually pay off the debt by continuing to leverage the country.
Sure you can. The UK has been doing it for four hundred years: they have in several instances been over 150% debt-to-GDP, and twice went over 200%:
Given the UK has never (AFAICT) had a surplus, that means they've simply continued to roll over debt, dating back to the South Sea Bubble (1700s), Napoleonic Wars (early 1800s), Crimean War (late 1800s), WW1 (1900s), etc:
(There current woes are of dumb decisions unrelated to fiscal issues, though the decisions are not helping the economy.)
See also Japan, who no one is freaking out about:
> As of March 2023, the Japanese public debt is estimated to be approximately 9.2 trillion US Dollars (1.30 quadrillion yen), or 263% of GDP,[1] and is the highest of any developed nation.[2][3][4][5] 43.3% of this debt is held by the Bank of Japan.[6]
Sure you can. The UK has been doing it for four hundred years: they have in several instances been over 150% debt-to-GDP, and twice went over 200%:
* https://en.wikipedia.org/wiki/United_Kingdom_national_debt#H...
Given the UK has never (AFAICT) had a surplus, that means they've simply continued to roll over debt, dating back to the South Sea Bubble (1700s), Napoleonic Wars (early 1800s), Crimean War (late 1800s), WW1 (1900s), etc:
* https://www.theguardian.com/business/blog/2014/oct/31/paying...
(There current woes are of dumb decisions unrelated to fiscal issues, though the decisions are not helping the economy.)
See also Japan, who no one is freaking out about:
> As of March 2023, the Japanese public debt is estimated to be approximately 9.2 trillion US Dollars (1.30 quadrillion yen), or 263% of GDP,[1] and is the highest of any developed nation.[2][3][4][5] 43.3% of this debt is held by the Bank of Japan.[6]
* https://en.wikipedia.org/wiki/National_debt_of_Japan
* https://asia.nikkei.com/Spotlight/Asia-Insight/Japan-s-growi...