The effects of all of this debt being accumulated cannot really be summarized in a post, however it is obvious that any new debt taken by the government weakens it and there are many countries that are reaching the limits as a great deal of debt was created in 2008 to solve the crisis, but the sad part is that they did not solve anything they just made the losses that were suffered by a few to become the losses of everyone, not only this was immoral they only delayed the inevitable which is a crisis even bigger than the one we saw in 2008.
We don't get the truth out of the government, the suffering of the common people doesn't matter big. If some of the companies face a hard time, automatically the government helps with sanctioning funds. Maybe that is helpful in building the economy, but it keeps on weakening the common people. From my view the economic growth from the common people is the true growth of the country.
And that is because even if people are powerful they are so numerous they need to coordinate themselves in order to exercise that power, while those that are rich by being so few can coordinate themselves very easily and ask for all kind of favours and regulations that benefits them, as such most government do not really see the need to try to help the poor or the middle class but when the situation of a country reaches a breaking point in which you see millions of people protesting the decisions of the government that is when they begin to consider making a change but at that time it is too late to do anything.