Worrying about debt is like gaining too much weight and worrying about the size of your clothing. America’s indebtedness would be sustainable and even healthy if the underlying economy were vibrant, innovative and strong and if federal and state governments could channel those moneys productively and quickly. The problem isn’t how much debt we’re carrying today; it’s whether the economy of tomorrow will be able to justify it.

Karabell goes even further suggestion that we should be “investing” more or in other words spending more money. While I agree with some of what Karabell has to say it would have been more applicable four years ago. Simply hoping the dollar remains strong and that interest rates stay low is not a recipe for maintaining a lot of debt.