Why Debt is Worse for Nations than Individuals

Have you ever been able to use debt to increase your income? Most likely, you have been able to. However, when you scale things up and you go from an individual, to a business, to a large business, and to a country — the problems with debt financed growth become larger exponentially, not linearly. To the point where when you reach nation states, (large nations using debt to try and fuel growth) — you almost always result in massive, catastrophic consequences, which can make things much worse in the end than they were before.