National debt

Debt is a two-edge sword.

Pros.
1. The stock market has been more than recovered due to the debt or printing money.
2. It causes our currency depreciated (not recently due to EU and Japan are worse). It leads to our debt obligation less (China got the same dollar back but they can buy half a loaf of bread less than before).

Cons.
1. The debt will be passed to the next generations (poor kids & grand kids).
2. If the government is a company that cannot service his debt, it will bankrupt.
3. Our debt (and obligation too and obligation to the 4 million if they're legal) as a percentage of our GDP is too high. We need to raise taxes or borrow more, so we cannot compete with foreign countries