[rainsil]

The national debt problem is somewhat overblown in popular opinion. Sovereign debt, in a country that pays it in its own currency, is bounded by inflation, not tax receipts. In practice this means that the US can reduce its debt to more manageable levels by permitting mild inflation (something I can see the Fed doing) and instituting greater fiscal responsibility at the federal level (perhaps less likely).

Also, it's important to note that strictly speaking, growing debt doesn't matter as long as the GDP grows by the same amount. Of course, that's not happening, so there is a problem. But as long as there is some leeway for inflation to increase (which there currently is), the debt is ultimately manageable.