You know, this whole thing about the deficit and the national debt is just bullshit when the Democrats, liberals, and primitives whine about it.
I was in college in the very late 1970s, when Jimmy Carter was running up then-record deficits (after Gerald Ford had earlier done the same thing--but of course Ford had no choice, what with a veto-proof majority of Democrats in Congress), and while the Republicans, a minority party, were worried about it, the Democrats and academic economists assured us, "oh, don't worry about it."
Their reasoning at the time--the conventional wisdom--was that it was a debt we owed to ourselves, so no big deal. I was assured of this when in college all the time, by professors of economics, and of course read in the newspapers what the Democrats and liberals in Washington were saying about it.
But then suddenly on January 20, 1981, the Democrats and liberals got very concerned about the deficit and the national debt, apparently now thinking it did matter.
Why this abrupt about-face, I have no idea.