We've really savaged some misleading concepts about Government finances, let's review:

Government bonds obligate someone else to pay for your debts: good for you, not good for someone else.

The people who end up with government money must obviously be the ones to pay it back.

Government employees are a huge block that votes in their own self-interest.

Government pensions are government employees colluding with other government employees.

Growing out of debt is economic magical thinking.

Governments should be focused on economics, not accounting.

Cities need bankruptcy the same reason that people do.

You may get your news somewhere else but take your advice from me, the Wysest Myn in the Wyrld.