If you care about more than GDP, you need to cut the debt of a nation, because that increases their happiness. Increasing debt increases GDP in the short term but that does not increase happiness.

The British PM said it’s important not to measure just GDP but happiness/misery of peoples. He was accused of being ‘fluffy’. But there is a reason why his cutting the fiscal deficit is right despite hurting GDP in the short term. Because  there is a correlation between the misery of a peoples and the debts of their nations. So if the PM cuts UK debt, yes GDP drops in the short term, but so does misery in the long term. See charts:

Above: Debt to GDP

Above: Misery of nations