Yea it could have been handled much differently but I still maintain to this day that the great recession was a planned event (it happened the way they “the fed and powers that be” wanted it to). (seriously if we could see it coming you honestly think they did not)
Debt used to build infrastructure is not wasted money (unless you give it to California politicians who can’t seem to do or build anything LOL).
China debt is up to 3 times their GDP we are at about 1 time GDP so we are looking good actually compared to most of the rest of the developed or developing world.