United States | News & Politics

I'd add that this debt is relevant in one important way already.

The state borrows from the bourgeoisie. Partly to pay the interest on previous loans given by the same bourgeoisie. Partly to pay for contracts with that same bourgeoisie. Partly to pay to everyone else in general, who then use this money to pay for things at the stores, etc, owned, again, by the same bourgeoisie.

So the same people who lend the government money end up either taking, being given, or otherwise receiving that very same money. But now the government owes them, rather than being owed. No wonder the bourgeoisie has the cash on hand to lend it to the government.

In the meantime, the bourgeoisie uses that money to buy assets, inflating prices. Inequality gets greater, and the life of the ordinary person is made that much harder, more oppressive.