"Debt" is not "currently changing". The way we think about it, most certainly is. Personal debt of households is not the same as deficit spending, or the national debt, because households cannot produce US dollars.

What Buffet is missing is the direct relationship between resources and currency. When you cannot run out of currency, it's the resources that are really supporting an economy ...or not.

If you spend into an economy only that which can be used to buy goods and services, you avoid inflation before it happens.

The real path to prosperity is to provide an even playing field for all, with social safety nets in place, and anti-corruption laws to protect citizens.