Can anyone explain to me why it is awful for a person to live in debt but it is okay for the federal government to do so? I've never understood this in the least, other than the "kick the can down the road, America superpower backed by military blah, blah, blah" very weak argument. History is full of the carnage of failed empires that had this same idea.
https://fred.stlouisfed.org/series/GFDEBTN
32 trillion in debt seems insurmountable, has anything like this ever reversed course historically?