I omitted detail for brevity. Of course debt isn't always bad. But "too much" debt is. How much is "too much"? That's complicated. So I simplified. That b

I omitted detail for brevity. Of course debt isn't always bad. But "too much" debt is. How much is "too much"? That's complicated. So I simplified. That being said, going into (mainly credit card) debt to buy TVs and iPods and widgets, which lots of people having been doing for years, is almost always "too much". If the resulting payoff is greater than the debt, then absolutely it makes sense to go into debt. I agree: if. But government lacks the proper incentives to ensure that the benefits justify the costs.