Good post. I would add that for any entity, future income stream does increase its value. A goose that lays golden eggs is worth more than a goose that doesn't. Unless you cook it first. :-)
When it comes to the American republic you're absolutely right. Private America's ability to create wealth seems to be the best kept secret on this "respected conservative" thread. So we got an $8 trillion national debt. Big deal. We've created that much wealth (after paying debts) in just the past two years.
Doomers are idiots.