Debt isn't good or bad in itself. Whether a given debt is bad depends on some factors:
* What is the debt as a fraction of GDP?
* What is the interest rate on the debt?
* What is the growth rate of the economy?
* What was the debt incurred to finance?
If a large public debt finances critical public infrastructure that will promote rapid economic growth and interest rates are reasonably low, the country will be in a situation where the economy is growing faster than the debt and the debt-to-GDP ratio is going down. That's a good situation to be in.
* What is the debt as a fraction of GDP?
* What is the interest rate on the debt?
* What is the growth rate of the economy?
* What was the debt incurred to finance?
If a large public debt finances critical public infrastructure that will promote rapid economic growth and interest rates are reasonably low, the country will be in a situation where the economy is growing faster than the debt and the debt-to-GDP ratio is going down. That's a good situation to be in.