I never understood this debt thing either. I understand that money is loaned and all that, but really, when will the world banks cease to lend? And once a workable, stable budget has been hammered out, who's to say that these debts won't simply be waived?

Canada is still paying off its debts from 80's, but it's a fraction of the US' debt, and we're running a surplus, so, it's not quite the same problem there. I'm looking forward to the day when the debt is no more and we can hopefully cut down some sin tax.