COMMENT OF THE DAY (10) - Yes, true statement.  But I like the "context" part.  Debt  (liabilities) is only a part of the balance sheet. There is also  "income" and earnings potential. There are long-term commitments  ("liabilities").  Then there are assets.

A little  paid-attention-to fact is that the US government (Fed, Treasury,  agencies) holds 26% of the US national debt, paying interest to itself.  Another interesting factoid is that the US treasury holds 1/2 trillion  worth of gold. The United States government owns about 650 million acres  of land, which is about 28% of the country's total land area.   Everything this land contains - minerals, hydrocarbons, fresh water,  forests - belongs to the US government.

The United States government has massive long-term commitments: Social security, and Medicare.

The United States government has income from taxes, and the ability to increase its income by simply passing legislation.

I  am just scratching the surface here.  The point is - you can't look at  the debt without looking at the entirety of the balance sheet, plus cash  flows, plus projected cash flows, plus the ability to increase the cash  flow.  And yet, debt is the only part that makes it to the headlines.