RE:RE:RE:RE:in realityPrinted money is not debt, it is just more money in circulation. Theoretically, if more money is printed than economic growth justifies the value of the currency will go down. Printed money can be taken out of circulation but it never has to be paid back.
Debt is Government bonds (US T bills, Canada Savings Bonds etc) which are traded to lenders as IOUs for their cash. The interest on the bonds has to be paid or the government defaults on it's debt. DEFAULT is a bad word politicians do not want to consider for their country's credit rating would go to zero and their ability to borrow more money would dry up.
Governments can purchase their own bonds. The US Federal reserve owns 9 Trillion of US federal debt. The rest is owned by other T bill holders. Can the US government default on that 9 trillion and get away with it? - I do not know. From what I have heard they have no plans of doing so.