A good post about national debt

Paul Krugman (see here) has a short and informative post regarding the issue of our national debt.  I would say that I wish many in Congress would read it, but I doubt it would matter.  Once you have become an ideologue (right-wing or left-wing), evidence no longer matters.  Below are some excerpts from the essay:

Deficit-worriers portray a future in which we’re impoverished by the need to pay back money we’ve been borrowing. They see America as being like a family that took out too large a mortgage, and will have a hard time making the monthly payments. 

This is, however, a really bad analogy in at least two ways. 

First, families have to pay back their debt. Governments don’t — all they need to do is ensure that debt grows more slowly than their tax base. The debt from World War II was never repaid; it just became increasingly irrelevant as the U.S. economy grew, and with it the income subject to taxation. 

Second — and this is the point almost nobody seems to get — an over-borrowed family owes money to someone else; U.S. debt is, to a large extent, money we owe to ourselves.