That's exactly the point Skybird. Look at something like this -
http://upload.wikimedia.org/wikipedi...DebtTriade.PNG
Countries have coped with high debt loads before, and will do so again. Debt is not cancerous (
bad debts are, but there's no reason that the US is functionally
unable to pay). It's not nothing to worry about, but it is an economic factor that can be handled simply and without drama.
Whether it is or not is up to the voters, and then by representation, the representatives, both of whom are having minor reality-calibration issues at the moment.