The number in and of itself is misleading and somewhat meaningless...

As long as our economy experiences growth and that growth outstrips debt, then the national debt is of no consequence.  In fact, deficits are sometimes good.  Personally, I am glad the USA has run some deficits in the past (WW II).

Bear in mind our economy is very large and powerful, despite what we think.  Many nations also carry more debt per capita than we do. 

Perhaps the best way to help others understand is this...consider an example where you earn $1,000 a month.  In such a scenario, a $200 a month payment added to your budget is significant.  However, if you plan next month to take a new job which raises your income to $3,000 a month, that $200 payment becomes less worrisome.  The national debt is much like that except it is on a larger scale. 

I believe a balanced budget is important, and I wish we had a budget that ran a surplus or was balanced.  The policy of regular deficits is worrisome, but we are still (despite the public hype) quite far from serious economic peril.  But we will arrive there if we continue to overspend while our economy runs slow. 

the only problem with your analysis middle is that although you are partly correct one must look at where the increased revenues will come from. we import more than we export, we are a materialistic group here in the US, we make some stuff here, so what is the next logical way to increase revenues? Taxes. Then we are back to the same old problem, the upper class pay the majority of taxes, as do businesses, the low income folks pay no taxes at all but get tax refunds, never have figured out how that worked but whatever and then us in the middle get the tight squeeze. the rich folks are not going to give up their lifestyles so if they or their businesses get taxed more they will just cut back on us middle class folks so they still get the same paycheck, but then that will make us low income folks then we will get all the government freebies, well maybe that isn't so bad.....naw I like to work for what i get and it ends up being a vicious cycle. This plan of Obama's will not work in the capitalist way but it will work in the socialist way then we will all be lazy because there will be no motivation to work hard and get ahead because there will be no getting ahead. we are in for a long bumpy ride. hold onnnnnnnnnnnn.

Fair enough GM. 

The way tax refunds work for the low income earners, is that one can only be refunded those taxes which one pays.  In other words, no taxes paid = no refund.  You don't get free money as a tax refund.  (You have to get it other ways...)

Owning a small business of my own, I can say about 40% of my revenues are subject to taxation.  I pay the following:

12.4 % in employment taxes (matching SSI and Medicare, as well as unemployment).

7.25% in sales taxes.

15% corporation tax. 

Plus, my employees (and I as an employee of my own company) pay 12.4% from each check, plus income tax on top of that.

With all this, it is little wonder businesses with overseas operations are starting to keep profits there rather than bringing them home (and thus subject to taxation).  That means our money is staying overseas and creating jobs there, but not here. 

I hope policies change and become more favorable to businesses, which will do more to stimulate the economy than any social programs.  I am very fond of saying the government provides the same services we can provide for ourselves, but at twice the cost and half the efficiency. 

I am frankly surprised at the strength of our economy despite the increasingly hostile environment we are creating for ourselves. 

MP