Hey, thats pretty much what has been said. But your missing the point about debt being created with the money. The USA national debt has been increasing like anything since WW2. Odd that. Actually, one reason Hitler managed to get Germany back on its feet in the 30's was that he borrowed lots of money. Of course, going to war meant he didnt have to repay any of it.....
But all capitalist economies are built on accumulated debt, I agree it's a major problem. But that debt is necessary for the capitalist economy to work. When the Brits had a mixed economy, or a neo-liberal one debt increased regardless. At the very least with capitalism you are able to repay that debt, if the debt was invested wisely. I do agree that US debt has been increasing since the great depression not WWII. Even the Soviet Union amassed a large amount of debt, as did all the former Socialist states. Debt is common among all states, it's a necessary evil. You cannot create goods without capital, in some instances you cannot import without debt, etc.
