I'll ask again, where were all these doom and gloom debt folk during the Bush administration? or was that level of debt ok?
It's not really about the amount of money that we owe, it's about the amount of money we owe for owing that money, called interest. The USA's interest poses a very real financial threat, when you look at the numbers in relation to what we actually owe, and what we currently spend. It's a very real problem, and to blow it off as "well we had debt before", is the precise mentality that will ice the inevitable, financial-crisis cake.
Doesn't take a history book to understand that humans are procrastinators, and governments even more so. You would see it in history books as well though. This government will procrastinate on fixing the monetary issues, and when they want to really make change, it will be too late. For this reason, a fix is just not possible. Politics are plagued with a malignant cancer that has sowed the seeds of disaster for this country's financial well-being. To think we will be fine-and-dandy without major repercussions on any various level, is just naive.
By the way, congress just passed a 660+ billion dollar defense bill. Hows that for some change? Oh wait, they didn't make a change. Get your lube ready, because when they do change their monetary irresponsibility for the better, it will be a change their obligated in doing via some degree of force, and there is a good possibility your asshole will be violated somewhere along the process.