> It’s not just US debt that’s a problem. It’s also state level and local level.

It’s also corporate level. Worse than government actually, because the government deficit is caused by several trillion-level tax cuts that were financed by government debt. Corporate debt comes on top of that.

> A lot of the debt is hidden too.

Accounting is even worse in corpo-land.

> Politicians corruptly waste money to helping themselves,

Again, Wall Street is worse, politicians don't become billionaires - billionaires buy their way into politics.

> Governments are far, far more wasteful and inefficient than anyone realizes.

Compared to corpo-land, governments are frugal.