Yes. Debt is the entire story of the American economy, from top to bottom, it's not inherently evil. It's useful for creating new wealth. But of course it gets misused also.
I don't think anyone is arguing that debt can't be another tool in the toolbox, but when you consider that the debt/equity ratio has risen considerably since the second half of the 20th century, you start to get the sense that this is somewhat "centrally" planned.