Public debt isn’t ‘money for nothing’, but we shouldn’t panic about it

Increased public debt also makes sense when it is used to finance new investment, including investment in education. Particularly at the low rates of interest likely to prevail for the foreseeable future, properly selected public investments will generate more than enough income to service and repay the associated debt, leading to an increase in the net wealth of the public sector.

In summary, public debt isn’t “money for nothing”, but we shouldn’t panic about it.

Source: Public debt isn’t ‘money for nothing’, but we shouldn’t panic about it