If you think debt is a new concept for america, you are an idiot. We have been in debt since WW2, it is part of keynsian economics. We have a lot of debt now, but in the overall scheme of things, we always have. We'll manage it the same way we always have, in fact, the last person to successfully manage our debt was a democrat. Maybe we should give them a term of two, since repubs squandered their last 2?