Our debts have to do with the fact we allow finance capitalists to skim too much off the top.  We allow them to become 100x millionaires and they still think that is not enough so they want more and will call out the government as being inefficient to sell their nonsense.  Because what they really want is to reduce costs (by pushing people down) and to pocket the difference themselves to increase their wealth and status. Cuz it makes them feel more important while adding nothing to society.  
Finance capitalists do not create things (or truthfully even jobs) they put their money where it will make them even richer and kid themselves into believing society needs them when in fact the opposite is true.  
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Chomksy describes that it is not necessarily the fault of the greedy capitalists as they are just acting in accordance with their human nature (self interest at the cost of others); whereas at one time we had a system in place that would limit the wealth going to too few hands.