Teacon asked you to explain your position and you refused so here goes.

Teacon this guy does a pretty good job. It amounts to some differences between our household debt and national debt:
1) Governments don’t die. So loaning to them is pretty safe (especially when they represent the largest economy in the world). So they get good interest rates.
2) If you have a mortgage, your income to debt ratio is WAY worse than that of the Federal government. (100K a year owning a 300K house is a 300% income to debt ration where the USA has about 80%)
3) The government can print their own money. Hyper-inflation can be tricky there (a la Germany 1930’s ish)
4) Most of the debt isn’t foreign debt (Yeah we’re into China for about a trillion and a half no big deal, right? They love us and all.)
So, yeah. We aren’t going to collapse from the weight of the debt, just yet. However, it is something to bear in mind when discussing accountability of politicians (and lack thereof). It get’s hard to fathom just how big a sum the debt is (and yes, it is $19.5 trillion not $18 trillion, but hey what’s a trillion and a half? That’s not off by much, is it?)
http://www.usdebtclock.org/

National debt can be a good thing, but it can also run out of control. The trend of every administration up to this point when it reached the debt to income ration that it is now has been to put the brakes on and start paying it down. Obama has slowed it a little as an overall percentage, but done nothing to reign in the out of control spending. Advocates of both parties will point out how the other party is at fault.


They are BOTH right.