You use the word heterodox as a thought preventing insult.
On the one hand we have a simple model that 1+1=2. On the other we have someone else proclaimed correct saying it’s not so. But it’s too complex for me to understand.
heterodox is a common term in the economics world. imagine it says "mainstream" if you prefer.
> You could start by stating your assumptions and basic axioms.
I'm not here to write a text book on economics. I'm here to point out that "debt is bad, we can never carry on like this" is a belief, not a statement of fact.
Everything in macroeconomics is a belief, because it is clearly far from a hard science.
Common sense always applies to some degree when it is based on logic. Also my belief is that a system where there is no limits on government spending and debt seems obviously unstable and likely to become infinitely corrupt.
