Alexander Hamilton believed (and convinced George Washington) that a little national debt (not the massive amount we have now) is a good thing. By being in a little debt, the countries that we owe money to would defend us in war because they don't want to lose their investment. Also, as long as we pay back the debt, with interest, other countries are more willing to be friendly with us because we are a good economic investment. If we were to have no debt, other countries would have no vested interest in us, and we would not have the same influence we did on other countries. Thoughts?