[StanislavPetrov]

>Correlating government debt (which is primarily owed back to it's citizens) to household debt is extremely disingenuous.

That's false for several reasons. First, government debt impacts citizens directly through higher taxes (income, property, sales, and others), fees, deprivation of services, ect. Second, government debt is not primarily owed back to it's citizens. The biggest holder of government debt is the Federal Reserve, which is a collection of private banks. The vast majority of debt not held by the federal reserve is held by banks, financiers, and the ultra-wealthy. Third, working people and those on fixed incomes are crushed by ZIRP (zero interest rate policy), which has been implemented by the FED in an effort to prevent the mountains of debt load on every governmental level from exploding. What it has done instead is prevented people from saving (since artificially low interest rates that don't match the rise in cost of living mean treasuries and savings accounts lose value) and further inflate the riches of the ultra-wealthy who borrow at 0% and buy stocks.

This doesn't even touch on the fact that millions of people who have worked their whole lives for pensions are about to get the shaft and become destitute when states and municipalities are overcome by their crushing debt and default on their payments.