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credit card debt i see as one thing, but isn't major serious central back debt literally created from nothing?
the US federal reserve lends the US government their entire budget, do they not? but with interest i really don't see how any of this has the mathematical possibility of payback. it can only get bigger.
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Why have an obsession about paying it back. If debt as a % of GDP is the measure, most of the world is not that bad off. Again, central debt is not something for nothing - you are basically creating a call on your resources that either your citizens or the rest of the world thinks you are good for. When things get to the point that either people don't think you are good for it or they actually start calling those goods to their economy, you have an issue.
Edit to add: the debtors are only getting richer to the extent you are good for the debt. If they let you get in so deep that your economy goes belly up (see New Zealand in the 80's) the debtor is the one to pay the piper. Again, there is no free lunch.