So regarding public debt, I always think, it will only become a problem if you make a problem out of it, which was what was happening in the Eurozone. There was no public debt problem until politicians started to worry about it and started with self defeating policies. Greece did not suffer from public debt - it suffered from the cure. So regarding the US deficit, I think, the numbers are less important than what the money was used for. Stephanie Kelton once said, it does not matter how much the government spends but where or how it spends. Debt and money are just bookkeeping and totally meaningless, if we do not look upon, what they are all about.
