Is debt important as long you can pay for it?

This argument must be written by Obama's folks. From his administration, our national debt has its recent height. It will lower our competitive edge. We have to pay more to service our debts instead of investing in profitable ventures such as infra structure. Our debts will be paid by our children and grand children who do not have a voice now.

Check out Greece and many other countries for examples. We really have to change the Constitution to require balancing budget instead of excessive printing (or supply) of money. From the many followers, I believe the herd is wrong.